 "indigo airlines, indigo")
Shares of InterGlobe Aviation dropped over 3 per cent on Tuesday after 2.26 crore shares changed hands at the market open.
India’s largest airline, IndiGo stock fell as much as 3.5 per cent during the day to ₹5,230 per share, the lowest level since May 8 this year. The stock pared losses to trade 2 per cent lower at ₹5,314 apiece, compared to a 0.74 per cent decline in Nifty50 as of 9:35 AM.
Shares of the company fell for the second straight day, and have fallen by 7 per cent from its all-time high, which it hit earlier this month. The counter has risen 16.5 per cent this year, compared to a 5 per cent advance in the benchmark Nifty50. IndiGo has a total market capitalisation of ₹2.05 trillion.
IndiGo block deal
About 2.26 crore shares, or 5.80 per cent equity, changed hands for ₹11,928 crore on Tuesday, according to reports. The trade happened at the price of ₹5,260.5, lower than the previous day's close. Buyers and sellers were not known immediately.
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Business Standard earlier reported that promoter Rakesh Gangwal will divest about 3.4 per cent stake in IndiGo for ₹6,831 crore, as part of his long-term plan to gradually reduce stake. The floor price for the transaction had been set at ₹5,175 per share, nearly 4.6 per cent below the last closing price of ₹5,424. Currently, Gangwal and his related entities hold a 13.53 per cent stake in IndiGo.
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Investment banking firms Goldman Sachs (India) Securities, Morgan Stanley India Company and J P Morgan India are said to be the placement agents for the stake sale
In August last year, Gangwal and his family trust sold a 5.83 per cent stake for about ₹10,500 crore. In March 2024, he offloaded another 6 per cent for ₹6,786 crore. In 2023, his wife Shobha Gangwal sold 3 per cent in August for ₹2,802 crore, and his family a 4 per cent stake for ₹2,900 crore in February.
IndiGo Q4FY25 results
India’s largest airline reported its highest-ever consolidated net profit for the fourth quarter. The firm’s profit rose 61.9 per cent year-on-year (Y-o-Y) to ₹3,068 crore.
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This was driven by a surge in travel demand during the Mahakumbh in Prayagraj, an extended wedding season, a sharp reduction in the number of grounded aircraft over the last few quarters, and effective cost control.
IndiGo saw a net addition of 67 aircraft in FY25. For full FY26, its capacity growth is expected to be in in low double digits.
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