IndiGo promoters to offload stake through IIP route

Currently, there are more than 30 private sector firms in the listed space where promoter shareholding needs to be pared

Some of IndiGo promoters will offload their stake in the airline through an insitutional placement programme (IIP) wherein there will also be a fresh issue of shares. Up to 33.6 million shares are proposed to be sold, which will comprise the fresh issue of 22.4 million shares and the offer for sale (OFS) of 11.2 million shares, the company said. InterGlobe Aviation was listed on the exchanges in November 2015, and the promoters’ holding stood at 85.9 per cent at the end of June 2017. The firm is required to have at least 25