IndiGo share price falls 4% after Gangwal family offloads 3.1% stake via block deal. Do you own?

IndiGo parent company InterGlobe Aviation share price fell as much as 4.30 per cent to ₹5,771.50 apiece in Thursday's trading session after reports revealed that Rakesh Gangwal family offloaded 1.2 crore shares, amounting to a 3.13 per cent equity stake, via a block deal.

According to CNBC-TV18 report, the deal is estimated to be worth ₹7,084.6 crore at a price of ₹5,830 per share, though official confirmation is still awaited.

Earlier reports had suggested that the Gangwal family intended to sell up to a 3.1 per cent stake in the airline through block deals, with a floor price set at ₹5,808 per share.

The shares are being offered at a floor price of ₹5,808 each, representing nearly a 4 per cent discount to the company’s Tuesday closing price of ₹6,044.75. The sellers have also agreed to a 150-day lock-in period for any further share sales.

In May, Gangwal and the promoter group sold up to a 3.4 per cent stake. Since stepping down from InterGlobe’s board in February 2022, Gangwal has been steadily reducing his shareholding as part of his plan to fully exit the company, following a governance-related dispute with co-founder Rahul Bhatia.

Since 2022, Gangwal and his family have generated over ₹45,300 crore through stake sales. These include a 2.74 per cent stake sold for ₹2,005 crore in September 2022, a 4 per cent stake offloaded by his wife Shobha for ₹2,944 crore in February 2023, and nearly 2.9 per cent sold for slightly over ₹2,800 crore in August of the same year.

In August 2024, the family trust divested a 5.2 per cent stake worth ₹9,549 crore. Following the latest block deal, the Gangwal Group will retain a 4.78 per cent stake in the airline, valued at approximately ₹11,169 crore.

“The Gangwal family's latest ₹7,028 crore divestment (3.1% stake) continues their multi-year exit strategy, having steadily reduced promoter shareholding from 67.8% to 43.5% since 2022. In my opinion this is a pure liquidity-driven selling rather than concerns over IndiGo's business fundamentals. Today's 5% decline appears overdone, driven by immediate supply pressure and weak Q2 operating metrics affected by geopolitical disruptions and yield compression. The sharp selloff, however, presents a compelling accumulation opportunity for long-term investors,” said Nitant Darekar Research Analyst at Bonanza.

IndiGo Q1 results 2025

IndiGo recently posted a 20 per cent year-on-year decline in net profit for the first quarter of FY26, recording earnings of ₹2,176 crore, despite a 4.7 per cent rise in revenue.

The drop in profitability was driven by higher fuel costs, currency fluctuations, and other external challenges.

However, the airline maintained its strong operational performance, with a passenger load factor of 84.2 per cent and an on-time performance of 87.1 per cent.

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