<p>Bengaluru: IndiGo airline's biggest shareholder will sell a 2 per cent stake worth $394 million (Rs 3.290 crore) in the low-cost Indian carrier on Tuesday, per a term sheet seen by <em>Reuters</em>, marking its first such sale in at least four years during which the company's stock has soared.</p><p>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.</p><p>That is a 6.6 per cent discount to the stock's closing price on Monday. The stock slid 3.6 per cent to 4,403.40 rupees on Tuesday.</p>.Charge-sheets to cabin crew can be detrimental for company, passengers: Air India Express Union.<p>Interglobe Enterprises, led by Rahul Bhatia, the co-founder of IndiGo, cannot sell further shares for another 365 days, the term sheet showed.</p><p>This is Interglobe Enterprises' first stake sale in at least four years, per exchange data, during which the stock has more than quadrupled in value.</p><p>In contrast, Rakesh Gangwal, IndiGo's other co-founder, and his wife Shobha have trimmed their stake for more than a year now through multiple share sales.</p><p>Still, IndiGo's stock has risen roughly 85 per cent over the last one year, hitting multiple all-time highs during that period.</p><p>Interglobe Enterprises also operates in the hospitality as well as logistics sectors, and has partnered with US-based Archer Aviation to start electric air taxis in India.</p>.Air India utilising group airlines' engineering skills for improved aircraft maintenance works.<p>Around 1.1 million IndiGo shares changed hands via block trades on Tuesday, per National Stock Exchange data, all at a discount to the last closing price, but above the base price.</p><p>IndiGo has over a thousand jets on order from Airbus, is betting on long-haul travel and will introduce business-class cabin later this year.</p><p>Citigroup is the sole broker for the deal.</p>
<p>Bengaluru: IndiGo airline's biggest shareholder will sell a 2 per cent stake worth $394 million (Rs 3.290 crore) in the low-cost Indian carrier on Tuesday, per a term sheet seen by <em>Reuters</em>, marking its first such sale in at least four years during which the company's stock has soared.</p><p>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.</p><p>That is a 6.6 per cent discount to the stock's closing price on Monday. The stock slid 3.6 per cent to 4,403.40 rupees on Tuesday.</p>.Charge-sheets to cabin crew can be detrimental for company, passengers: Air India Express Union.<p>Interglobe Enterprises, led by Rahul Bhatia, the co-founder of IndiGo, cannot sell further shares for another 365 days, the term sheet showed.</p><p>This is Interglobe Enterprises' first stake sale in at least four years, per exchange data, during which the stock has more than quadrupled in value.</p><p>In contrast, Rakesh Gangwal, IndiGo's other co-founder, and his wife Shobha have trimmed their stake for more than a year now through multiple share sales.</p><p>Still, IndiGo's stock has risen roughly 85 per cent over the last one year, hitting multiple all-time highs during that period.</p><p>Interglobe Enterprises also operates in the hospitality as well as logistics sectors, and has partnered with US-based Archer Aviation to start electric air taxis in India.</p>.Air India utilising group airlines' engineering skills for improved aircraft maintenance works.<p>Around 1.1 million IndiGo shares changed hands via block trades on Tuesday, per National Stock Exchange data, all at a discount to the last closing price, but above the base price.</p><p>IndiGo has over a thousand jets on order from Airbus, is betting on long-haul travel and will introduce business-class cabin later this year.</p><p>Citigroup is the sole broker for the deal.</p>