IndiGo co-founder Rakesh Gangwal plans to sell upto 12.1 million shares in the airline in block deals.

The stake sale which amounts to around 3.1 per equity of the airline could fetch Gangwal ₹7,027 crore as per the offer price of ₹5,808 per share.

The offer price is at a discount of 4 per cent to its last closing price of ₹6,050.

Morgan Stanley, Goldman Sachs and JP Morgan are managing the share sale.

Gangwal has been selling shares in the airline in tranches over the past couple of years – with the last transaction taking place in May.

While he continues to be classified as a promoter, he had earlier stepped down from the board following differences with co-founder Rakesh Bhatia on corporate governance issues, and also said that he would gradually reduce his equity stake in the airline over the next five years.

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Published on August 26, 2025