Morgan Stanley bought 28.54 lakh shares worth ₹1,346 crore, while the rest of the buyers remain unknown. As of June 30, 2024, the Chinkerpoo Family Trust held a 13.49% stake in the aviation company, while Rakesh Gangwal held a separate 5.89% stake.
In February 2022, Rakesh Gangwal, co-founder of India’s largest carrier, announced his decision to gradually reduce stake in the company and stepped down from the company’s board. This decision followed a two-year-long bitter battle with co-promoter Rahul Bhatia.
Shares of Indigo rallied 92% in the last year compared to a 30% gain in the Nifty.
Rakesh Gangwal, his wife Shobha Gangwal, and their family trust, all part of the promoter group, held a 33.78% stake in the airline company as of December 2022.Earlier this year, Gangwal sold a 5.8% stake in the budget carrier, raising ₹6,786 crore through open market. In August 2023, Shobha Gangwal sold a 4% stake in the company in open market for approximately ₹2,944 crore.
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