IndiGo denies reports on 4 pc stake sale to raise $1 billion

New Delhi: InterGlobe Aviation Limited, the parent company of IndiGo, on Monday denied media reports which claimed that the budget airline is planning to sell a part of its stake to raise $1 billion.

In a statement, the company called such reports ‘speculative’ and said they have ‘no factual basis.’

InterGlobe clarified that it remains fully committed to IndiGo and its long-term growth plans.

“InterGlobe Enterprises is firmly committed to oversee IndiGo’s long-term plans and currently, the airline’s next phase of growth remains our primary focus,” the statement read.

The clarification came after some news reports claimed that InterGlobe was looking to offload up to a 4 per cent stake in IndiGo via block deals, which could raise around $1 billion or Rs 8,600 crore.

These reports also suggested that Rahul Bhatia, the co-promoter and Managing Director of InterGlobe Enterprises, could be the seller.

This would have been Bhatia’s second stake sale in a little over a year. In June 2024, he had sold a 2 per cent stake — around 77.2 lakh shares — in IndiGo for Rs 3,292 crore.

That money was reportedly used to support InterGlobe’s hospitality and other businesses.

Meanwhile, IndiGo’s other co-founder Rakesh Gangwal has already been reducing his stake in the airline over the past few years.

In May 2025, Gangwal sold 5.7 per cent of his shares through a block deal. His family’s total holding in the company now stands at 7.8 per cent, down from about 37 per cent before 2020. Gangwal had earlier announced his plan to exit the airline.

Despite the speculation, InterGlobe Aviation Limited shares closed higher on Monday. The shares finished the intra-day trade at Rs 5,390, up by Rs 128 or 2.43 per cent on the National Stock Exchange (NSE).

IANS