Gangwal Family Trust Sells Stake in IndiGo Amid Ongoing Divestment Initiative

Rakesh Gangwal's family trust on Thursday divested a 1.3% stake in IndiGo, India's largest airline, in open market transactions, garnering Rs 2,933 crore.

This sale marks a part of the Gangwals' broader divestment strategy, which has seen them offload 28.32% of their stake in IndiGo since 2022.

The move follows a strategic decision by Rakesh Gangwal, post-disputes with co-founder Rahul Bhatia, to gradually sell his stake in the airline.

(With inputs from agencies.)