IndiGo Shares Sold to Boost Hospitality Ventures

InterGlobe Aviation Limited sold 7.72 million shares of IndiGo, approximately 2% of its total share capital, through a block deal. The proceeds will be used to expand InterGlobe Enterprises' hospitality and other businesses. Rahul Bhatia's promoter group remains the largest shareholder, continuing to drive IndiGo's growth.

On Tuesday, InterGlobe Aviation Limited, the parent company of IndiGo, announced the sale of 7.72 million shares—nearly two percent of IndiGo's total share capital—via a block deal. This transaction was on behalf of InterGlobe Enterprises Private Limited. According to the company's statement, the proceeds from this sale will be directed towards scaling up IGE's hospitality ventures and other ongoing business incubations, as well as general corporate purposes.

Following this deal, the promoter group associated with Rahul Bhatia will still hold the largest share in IndiGo. Bhatia will continue his role as the promoter and managing director, actively shaping IndiGo's strategic directions alongside Pieter Elbers, the chief executive officer.

''The strong response received from both existing and new investors demonstrates the competitive strength and long-term prospects of IndiGo,'' said Rahul Bhatia, IGE group managing director. He expressed enthusiasm about guiding IndiGo's upcoming growth phases, emphasizing India's status as the fastest-growing aviation market globally and IndiGo's apt strategy and management team to seize this opportunity.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)