News > Indian airline IndiGo's top shareholder to sell 2% stake, worth $394 million

Indian airline IndiGo's top shareholder to sell 2% stake, worth $394 million

Interglobe Enterprises, which had a 37.75 per cent stake in Interglobe Aviation, the operator of IndiGo, will sell the shares at a base price of 4,266 rupees each, the term sheet showed. That is a 6.6 per cent discount on the stock's closing price on Monday. The stock slid 3.6 per cent to 4,403.40 rupees on Tuesday. Interglobe Enterprises, led by Rahul Bhatia, the co-founder of IndiGo, cannot sell further shares for another 365 days, the term sheet showed.