IndiGo Co-Founder's Bold Move: Rahul Bhatia Reaffirms Commitment Amid Stake Sale

IndiGo's Co-Founder Rahul Bhatia has reassured stakeholders that he and InterGlobe Enterprises are committed to the airline despite a recent stake sale. The shares were sold to raise funds for business and corporate purposes. Bhatia made this announcement during IndiGo's 18th anniversary celebration.

IndiGo Co-Founder and Managing Director Rahul Bhatia on Monday affirmed his and InterGlobe Enterprises' enduring commitment to the airline, following a recent stake sale aimed at raising capital for business and general corporate purposes.

Bhatia's statement comes amid concerns regarding a promoter entity selling shares during the airline's ambitious expansion plans. In June, InterGlobe Enterprises Pvt Ltd sold 7.72 million shares, equating to around 2% of InterGlobe Aviation's total share capital, IndiGo's parent company.

Speaking at the event marking 18 years of IndiGo's operations, Bhatia emotionally assured the audience that the stake sale was a straightforward move to secure necessary funds. 'InterGlobe and I are here to stay,' Bhatia declared in the national capital.

(With inputs from agencies.)