IndiGo Co-Founder Rakesh Gangwal to Sell 3.8% Stake for Rs 7,100 Crore
Rakesh Gangwal, co-founder of India’s largest airline IndiGo, is poised to reduce his stake in the company further, with plans to divest approximately 3.8% of his holdings in InterGlobe Aviation, the parent company of IndiGo. This strategic move is valued at around Rs 7,100 crore ($8.5 billion) and is part of Gangwal’s…
The committee of creditors (CoC) for the bankrupt airline Go First has unanimously opted for liquidation, following disappointing bids from potential resolution applicants. A senior executive from a private bank, which holds minimal exposure to the airline, confirmed that the voting process is complete, and the airline is expected to be recommended for liquidation shortly.
The decision comes after…
