InterGlobe Aviation share sale begins; stock down 3%

InterGlobe Aviation, the owner of India's biggest airline IndiGo, has dipped 3.3% to Rs 1,142 on the BSE in intra-day trade. The shares will be sold at a floor price of Rs 1,130 per share

InterGlobe Aviation, the owner of India’s biggest airline IndiGo, dipped 3.3% to Rs 1,142 on the BSE in intra-day trade, after the share sale by its promoter begins today. The shares will be sold at a floor price of Rs 1,130 per share.

Two promoter entities of InterGlobe Aviation plans to offload about 11.19 million equity shares representing 2.91% of the total equity capital of the company through the offer for sale (OFS) route, the company said in regulatory filings.

Acquire Services proposed to sell up to 7.95 million equity shares and IGE (Mauritius) Pvt Ltd proposes to