Why did IndiGo stock plunge today?
16 August 2023
Interglobe Aviation’s shares tanked 5% after a block deal
on exchanges on 16 Aug 2023
IndiGo’s co-founder Rakesh Gangwal & his family are likely to sell shares worth Rs 3,730 crore through block d
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Gangwal stepped down from IndiGo’s board membership team in February 2022 & is reducing his stake by selling shares through block deal
IndiGo’s founders were engaged in a long-running feud with Gangwal raising corporate governance issues in July 2019
Shares are currently offered at floor price of Rs 2,400 per share at a discount of 5.8% on 14 August’s closing price
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BFSL Research team recommends a “
BUY
” on Interglobe Aviation Ltd.
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