MUMBAI: IndiGo's parent company InterGlobe Aviation Ltd said its 7.72 million shares, which is about two per cent of IndiGo's total share capital, were sold through a block deal on Tuesday on behalf of InterGlobe Enterprises Pvt Ltd.
The company said in a statement that the proceeds will be used to fund IGE's hospitality and other businesses it is launching, as well as for general corporate purposes.
After the completion of this sale, the promoter group related to Rahul Bhatia will continue to be the largest shareholder of IndiGo.
According to the statement, Bhatia will retain his role as promoter and managing director of the company and will continue to drive the strategic direction of IndiGo along with Peter Albers, Chief Executive Officer of IndiGo.
"The strong response from both existing and new investors reflects IndiGo's competitive strength and long-term prospects," said Rahul Bhatia, Managing Director, IGE Group.
“I am excited to continue to oversee the next phase of growth for IndiGo. I believe there is a long way to go for growth as India continues to be the fastest growing aviation market globally and this opportunity We have the right strategy and management team to take advantage of this." Bhatia further said.
The company said in a statement that the proceeds will be used to fund IGE's hospitality and other businesses it is launching, as well as for general corporate purposes.
After the completion of this sale, the promoter group related to Rahul Bhatia will continue to be the largest shareholder of IndiGo.
According to the statement, Bhatia will retain his role as promoter and managing director of the company and will continue to drive the strategic direction of IndiGo along with Peter Albers, Chief Executive Officer of IndiGo.
"The strong response from both existing and new investors reflects IndiGo's competitive strength and long-term prospects," said Rahul Bhatia, Managing Director, IGE Group.
“I am excited to continue to oversee the next phase of growth for IndiGo. I believe there is a long way to go for growth as India continues to be the fastest growing aviation market globally and this opportunity We have the right strategy and management team to take advantage of this." Bhatia further said.