Gangwal may sell up to 2.8% in IndiGo Airlines for Rs 2,000 cr: Sources

Stake sale being brokered by three investment banks, says another source; Gangwal and his group currently own 36.6% in InterGlobe Aviation, Bhatia's camp owns 38.17%

IndiGo Airlines' co-promoter Rakesh Gangwal is likely to sell up to 2.8 per cent stake in the parent company InterGlobe Aviation through block deals for about Rs 2,000 crore, sources said on Wednesday.

On February 18, Gangwal had resigned from the board of directors of the company, stating that he will gradually reduce his equity stake over the next five years.

Gangwal and his related entities currently own 36.6 per cent in InterGlobe Aviation. The other co-promoter Rahul Bhatia and his related entities currently own 38.17 per cent in it. Gangwal and Bhatia had been locked in dispute for almost