Indigo Airlines share price down over 3% as Interglobe Enterprises plans to offload stake worth $394 million
9 months, 2 weeks ago

Indigo Airlines share price down over 3% as Interglobe Enterprises plans to offload stake worth $394 million

Live Mint  

Interglobe Enterprises Private Ltd, led by Rahul Bhatia, is set to sell stake worth $394 million in Interglobe Aviation, the parent company of Indigo Airlines, through a block deal, Moneycontrol reported citing multiple sources, putting the focus on its share price. The Interglobe Aviation share price was trading in red, down 3.31 per cent at ₹4411.50 on June 11, at 9:45 am, on BSE. The sale's floor price is set at ₹4,266 per share, a 6.5 per cent discount from Interglobe Aviation's closing price of ₹4,562.55 on June 10. As of now, Interglobe Enterprises holds a 37.75 per cent stake in Interglobe Aviation, as per the report.

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History of this topic

IndiGo targets 200 mn fliers by 2030, but faces plane shortage
1 week, 3 days ago

IndiGo targets 200 mn fliers by 2030, but faces plane shortage

Live Mint  

India's largest airline IndiGo expects to fly 200 million passengers annually by 2030, an 80% increase from the 113 million passengers it flew in 2024, led by its fleet expansion from 439 aircraft to 600 by the end of the decade. Top executives of InterGlobe Aviation, IndiGo's parent company, told analysts in Gurugram on Wednesday that the airline would expand …

Why is IndiGo share price skyrocketing despite bloodbath in Indian stock market?
1 month ago

Why is IndiGo share price skyrocketing despite bloodbath in Indian stock market?

Live Mint  

IndiGo share price: Indian low-cost carrier Interglobe Aviation shares have skyrocketed 10% in the last six sessions despite a bloodbath in the Indian stock market. Dr Ravi Singh, SVP of Retail Research at Religare Broking, noted that the stock had gained almost 10% in the last six market sessions and also mentioned that the company's January to March quarter passenger …

IndiGo, Air India ramp up loyalty programmes. But they have a lot to catch up
1 month, 2 weeks ago

IndiGo, Air India ramp up loyalty programmes. But they have a lot to catch up

Live Mint  

India’s two largest airlines IndiGo and Air India, which dominate the near-duopoly in domestic skies, are ramping up their frequent flyer programmes to gradually build another potential revenue-generation source in a cut-throat market. Tata Group-owned Air India Group’s loyalty membership, Maharaja Club, has surged threefold to about 10 million since it completed merger with Vistara in November last year. In …

IndiGo bets on overseas flights for growth
2 months ago

IndiGo bets on overseas flights for growth

Live Mint  

IndiGo, India's largest airline by market share and fleet size, sees the next phase of growth coming in from international operations, according to its top executive. "By definition it would be a temporary solution, it's not going to be a hundred percent the exact same Indigo product, but I think we will be able to make it as close as …

IndiGo’s profit hit on account of rupee depreciation
2 months ago

IndiGo’s profit hit on account of rupee depreciation

Live Mint  

A record number of passengers flying in the October-December period helped InterGlobe Aviation, the parent company of IndiGo, report better-than-expected revenue, but a sharp fall in the rupee against the dollar hurt the profitability of the country's largest airline. As IndiGo's lease liabilities are dollar-denominated, a 2% depreciation of the rupee against the dollar in the latest quarter led to …

IndiGo Q3 result: Profit drops 18% YoY despite strong air travel demand; key highlights
2 months ago

IndiGo Q3 result: Profit drops 18% YoY despite strong air travel demand; key highlights

Live Mint  

IndiGo Q3 result: InterGlobe Aviation on Friday, January 24, reported a 18.32 per cent year-on-year drop in its December quarter net profit to ₹2,448.8 crore. Consolidated revenue from operations rose 13.7 per cent YoY to ₹22,110.7 crore from ₹19,452.1 crore in the same quarter last year. Cost comparisons IndiGo said its total income for the quarter ended December 2024 was …

IndiGo share price soars 5% as Elara Securities upgrades stock to ‘Buy’ from ‘Sell’. Check target price and rationale
3 months ago

IndiGo share price soars 5% as Elara Securities upgrades stock to ‘Buy’ from ‘Sell’. Check target price and rationale

Live Mint  

IndiGo share price experienced a sharp rise of 5 per cent in intra-day trade on Tuesday, December 24, driven by a bullish call from domestic brokerage Elara Securities. The brokerage house, in a report dated December 21, upgraded IndiGo’s rating to ‘Buy’ from ‘Sell’ and raised the target price to ₹5,309, indicating a 20 per cent upside from the last …

‘No delays here!’ — IndiGo hits back at AirHelp for ranking it among world’s worst airlines
3 months, 3 weeks ago

‘No delays here!’ — IndiGo hits back at AirHelp for ranking it among world’s worst airlines

Live Mint  

Low-cost carrier IndiGo refuted an AirHelp survey which alleged that the airline came among the worst on the basis of certain parameters including punctuality, reported the news agency PTI on Wednesday, December 4. The survey conducted compared the world's biggest and most popular airlines and rated them according to their punctuality, the airline's quality of service, and how well the …

IndiGo's Rise and Fall: The Rise and Fall of a Low-Cost Airline
4 months, 4 weeks ago

IndiGo's Rise and Fall: The Rise and Fall of a Low-Cost Airline

Live Mint  

Rakesh Gangwal, the co-founder of IndiGo, has left the airline industry after a significant disagreement over corporate governance issues. Gangwal's decision to sell off his stake in IndiGo has raised concerns about the future direction of the airline. Despite facing challenges from the pandemic, IndiGo has been able to maintain its position as a low-cost airline in India. Gangwal's acquisition …

Stocks to watch: IndiGo, RVNL, TaMo, Vi, IRB Infrastructure, Jubilant Foodworks
9 months, 2 weeks ago

Stocks to watch: IndiGo, RVNL, TaMo, Vi, IRB Infrastructure, Jubilant Foodworks

Live Mint  

Interglobe Aviation: Interglobe Enterprises, a promoter entity of Rahul Bhatia, is planning to sell a stake worth $394 million in Indigo Airlines’ parent company, Interglobe Aviation, via a block deal. Kalpataru Projects International: The company announced that its board has approved the proposal to raise ₹300 crore through the issuance of Non-convertible Debentures on a private placement basis. Bank of …

IndiGo is now world’s third-largest airline by m-cap, stock hits 4% upper circuit at 52-week high-mark
11 months, 2 weeks ago

IndiGo is now world’s third-largest airline by m-cap, stock hits 4% upper circuit at 52-week high-mark

Live Mint  

IndiGo has now become the world's third-largest airline in terms of market capitalistaion with shares of the operator InterGlobe Aviation Limited soaring nearly five per cent to achieve a lifetime record-high mark during intra-day on Wednesday, April 10. Apart from today's gain, IndiGo shares have rallied nearly 22 per cent in the last one month, which has now taken the …

IndiGo share price hits 52-week high. Will it rise more? Should you buy or not?
1 year ago

IndiGo share price hits 52-week high. Will it rise more? Should you buy or not?

Hindustan Times  

IndiGo share price: The share price of IndiGo gained over 2% to hit a 52-week high today. This comes after global brokerage firm UBS raised the target price on the stock and maintained its positive stance citing strong growth prospects of Indian aviation industry, share gains in international travel, efficient cost structure and operational excellence. IndiGo share price IndiGo shares …

IndiGo share price hits 52-week high as UBS remains bullish, raises target price on stock
1 year ago

IndiGo share price hits 52-week high as UBS remains bullish, raises target price on stock

Live Mint  

IndiGo share price gained over 6% to hit a 52-week high on Tuesday after foreign brokerage firm UBS raised the target price on the stock. UBS maintained its positive stance on IndiGo considering the strong growth prospects of the Indian aviation industry, share gains in international travel, efficient cost structure and operational excellence. It maintained a Buy rating on IndiGo …

IndiGo share price at record high, Kotak sees a 30% upside in stock: What next? Should you buy or not?
1 year ago

IndiGo share price at record high, Kotak sees a 30% upside in stock: What next? Should you buy or not?

Hindustan Times  

IndiGo share price: The share price of IndiGo rose almost 3 per cent as it hit its fresh record high of ₹3,339 on BSE today. The share price rose about 2.8 per cent to hit its fresh all-time high level and traded 1.25 per cent higher at ₹3,288.65. IndiGo share price: In the past one year, the stock has gained …

Rakesh Gangwal likely to sell shares in IndiGo
1 year ago

Rakesh Gangwal likely to sell shares in IndiGo

The Hindu  

“InterGlobe Aviation’s promoter Rakesh Gangwal is likely to sell more than a 3% stake in the company through open market transactions,” according to sources. As of December 2023, promoters' of InterGlobe Aviation owned a 63.13% stake in the company and Mr. Gangwal had an 11.72% shareholding. The Chinkerpoo Family Trust, whose trustee is Shobha Gangwal and JP Morgan Trust Company …

IndiGo co-founder Rakesh Gangwal to sell 3.3% stake in InterGlobe Aviation
1 year ago

IndiGo co-founder Rakesh Gangwal to sell 3.3% stake in InterGlobe Aviation

Live Mint  

Mumbai: IndiGo co-founder Rakesh Gangwal plans to sell up to 12.75 million shares, or 3.3% of his stake in InterGlobe Aviation Ltd, through a block deal, according to a term sheet reviewed by Mint. The sale, estimated to be worth ₹3,730 crore, will see the offer floor price set at ₹2,925 per share, a 5.8% discount to the last closing …

IndiGo Posts Q2 Profit At Rs 188.9 Crore On Higher Air Traffic, Capacity
1 year, 4 months ago

IndiGo Posts Q2 Profit At Rs 188.9 Crore On Higher Air Traffic, Capacity

News 18  

IndiGo Q2 Results: InterGlobe Aviation, the owner of India’s largest airline IndiGo, on Friday posted a profit after tax of Rs 188.9 crore for the second quarter ended September 30, 2023, on the back of higher air traffic and increased capacity. IndiGo’s total income in July-September 2023 jumped 20.6 per cent to Rs 15,502.9 crore. IndiGo said passengers increased by …

IndiGo shares drop over 4% after stake sale by Gangwal family
1 year, 7 months ago

IndiGo shares drop over 4% after stake sale by Gangwal family

Live Mint  

IndiGo share price fell more than 4% in early trade on Thursday after a block deal in the equity shares of the company took place on exchanges. According to deal terms seen by Mint, IndiGo co-founder Rakesh Gangwal and his family were to sell around 4% stake in InterGlobe Aviation Ltd for up to $450 million. The block deal is …

Indigo shares touch all-time high on Airbus order worth $50 billion
1 year, 9 months ago

Indigo shares touch all-time high on Airbus order worth $50 billion

Live Mint  

Interglobe Aviation share price touched all-time high today at ₹2,499.95 apiece on BSE, and gained over 2% in early trade on Tuesday, following the news that the nation's largest airline had signed a 500-aircraft order for an estimated $50 billion with European aircraft manufacturer Airbus SE at the Paris Air Show on Monday. Interglobe Aviation shares opened 2.8% higher at …

Auto, IT ensure Sensex, Nifty end in green; Tata Motors, HCL Tech shine
1 year, 9 months ago

Auto, IT ensure Sensex, Nifty end in green; Tata Motors, HCL Tech shine

Live Mint  

Sensex and Nifty rallied in the final hour to reach near all-time high closing points after remaining in the red in the first half. BHARAT AGRI FERT & REALTY More Information Share Market Today: Nifty Bank continues to remain under pressure with most stocks trading in the red View Full Image Nifty Bank InCred Equities on IndiGo: At current prices, …

IndiGo hits record market share in domestic aviation
1 year, 9 months ago

IndiGo hits record market share in domestic aviation

Live Mint  

IndiGo, India’s largest airline, achieved a record market share of 61.4% in the domestic civil aviation industry in May, according to data from the Directorate General of Civil Aviation. Air India group airlines also registered more than 90% load factors with Air India at 90.1% compared to 87.9% a month ago, Vistara at 93.2%, and Air Asia India at 92.8% …

Interglobe Aviation share price: Should you buy, sell or hold this airline stock
1 year, 10 months ago

Interglobe Aviation share price: Should you buy, sell or hold this airline stock

Live Mint  

India's largest airline in terms of market share, Intergloble Aviation traded on a volatile note on Friday after its fourth quarterly figures for FY23. Read here: SBI share price rises 2% on strong Q4 earnings; key positives for this PSB stock ahead During this quarter, Indigo's capacity increased by 49.2% to 30.4 billion, while passenger numbers increased by 60.5% to …

IndiGo Q3 result: Profit soars as air travel recovers from Covid
2 years, 1 month ago

IndiGo Q3 result: Profit soars as air travel recovers from Covid

Hindustan Times  

InterGlobe Aviation Ltd, the operator of India's top airline IndiGo, on Friday reported an eleven-fold jump in quarterly profit led by a pick up in demand for air travel. Yields, a metric for profitability, rose 21.9% to 5.38 rupees per kilometre from a year earlier, while the carrier's load factor, or the passenger carrying capacity being utilized, improved 5.4 percentage …

Gangwal to sell Indigo stake for $250m
2 years, 6 months ago

Gangwal to sell Indigo stake for $250m

Live Mint  

MUMBAI/NEW DELHI : Rakesh Gangwal, co-founder of India’s biggest airline, IndiGo, will sell up to a 2.8% stake in Interglobe Aviation Ltd through a block deal that will fetch him at least $250 million, according to deal terms reviewed by Mint. The selling shareholders include Rakesh Gangwal, Shobha Gangwal and The Chinkerpoo Family Trust, collectively the Rakesh Gangwal promoter group, …

Will buy IndiGo stake only from Bhatia: Al Baker
2 years, 9 months ago

Will buy IndiGo stake only from Bhatia: Al Baker

The Hindu  

Qatar Airways is not interested in buying a stake in IndiGo’s parent InterGlobe Aviation Ltd. from its co-promoter Rakesh Gangwal, who plans to sell his holdings in the budget Indian airline over the next five years, the Doha-based carrier’s CEO Akbar Al Baker said on Monday. “We will only buy something from Rahul, not from anyone else,” Mr. Al Baker …

IndiGo EGM Ends, CEO Ronojoy Dutta Assures Shareholders Of Stronger Recovery
3 years, 3 months ago

IndiGo EGM Ends, CEO Ronojoy Dutta Assures Shareholders Of Stronger Recovery

ABP News  

New Delhi: The extraordinary general meeting of InterGlobe Aviation, the parent firm of low-cost airline IndiGo, was held on Thursday. According to news report, the airline’s Chief Executive Officer Ronojoy Dutta assured the shareholders that the company will emerge stronger after facing two turbulent years of uncertainty due to the Covid-19 pandemic. Dutta, who was speaking at the EGM of …

IndiGo to raise at least ₹20 billion via leaseback
4 years, 8 months ago

IndiGo to raise at least ₹20 billion via leaseback

Live Mint  

BENGALURU/NEW DELHI: IndiGo, India's largest airline, said on Wednesday it planned to raise at least ₹20 billion through the sale and leaseback of planes and other assets, after reporting its steepest quarterly loss in at least five years. Chief Financial Officer Aditya Pande said the airline, owned by Interglobe Aviation Ltd, would consider raising even more than 20 billion rupees …

Rahul Bhatia of InterGlobe Enterprises says has signed agreement to take part in sale of Virgin Australia
4 years, 10 months ago

Rahul Bhatia of InterGlobe Enterprises says has signed agreement to take part in sale of Virgin Australia

Firstpost  

InterGlobe Enterprises, IndiGo’s biggest shareholder company, has now said it has signed an agreement to participate in sale of Virgin Australia. Rahul Bhatia-led InterGlobe Enterprises signs agreement to participate in sale process of Virgin Australia. “As regards Virgin Australia, InterGlobe Enterprises has signed an agreement to participate in the sale process and is bound by the confidentiality requirements of that …

Rahul Bhatia's InterGlobe Enterprises joins list of bidders for bankrupt airline Virgin Australia
4 years, 10 months ago

Rahul Bhatia's InterGlobe Enterprises joins list of bidders for bankrupt airline Virgin Australia

Firstpost  

Virgin Australia is one of the first major airlines to seek bankruptcy protection in response to the pandemic InterGlobe Enteprises, the biggest shareholder for India’ largest airline IndiGo, is joining a list of bidders who have shown interest in Virgin Australia, Australia’s second-largest aviation company. Deloitte, the administrator for Virgin Australia, is seeking indicative bids by Friday and binding offers …

Airline shares tumble up to 14 pc; IndiGo hits 52-week low
5 years ago

Airline shares tumble up to 14 pc; IndiGo hits 52-week low

India TV News  

Airline stocks plunged into deep red on Friday due to the ongoing travel restrictions in the wake of coronavirus outbreak. InterGlobe Aviation, the parent of the country's largest airline IndiGo, saw its shares slump 14.08 per cent to hit 52-week low of Rs 875. In the afternoon session, the Sensex was trading higher by 937 points or 2.86 per cent …

IndiGo shares fall over 2 per cent amid Sebi scare
5 years, 1 month ago

IndiGo shares fall over 2 per cent amid Sebi scare

India TV News  

InterGlobe Aviation shares on Thursday declined more than 2 per cent amid reports that Sebi has found violations in corporate governance and listing disclosure norms of the company. IndiGo on Wednesday said it has responded to all queries from Sebi regarding related party transactions and asserted that they were entered into in the best interests of the company. The company …

IndiGo parent InterGlobe Aviation net profit soars to Rs 496 cr in December quarter; total income jumps 25%
5 years, 2 months ago

IndiGo parent InterGlobe Aviation net profit soars to Rs 496 cr in December quarter; total income jumps 25%

Firstpost  

New Delhi/Mumbai: InterGlobe Aviation, the parent company of budget carrier IndiGo, on Monday reported a steep rise in profit after tax at Rs 496 crore for the three months ended December 2019, mainly helped by higher income. Its total income surged a robust 25.5 percent to Rs 10,330.2 crore in the latest December quarter from Rs 8,229.3 crore in the …

IndiGo CEO says co-founders' feud has 'zero impact' on company; promoters on same page over airline's strategic direction
5 years, 4 months ago

IndiGo CEO says co-founders' feud has 'zero impact' on company; promoters on same page over airline's strategic direction

Firstpost  

New Delhi: Amid ongoing feud between the airline’s promoters, IndiGo CEO Ronojoy Dutta on Thursday said there is “zero impact” on the carrier right now as they are on the same page over the airline’s strategic direction. The differences between co-founders and co-promoters – Rakesh Gangwal and Rahul Bhatia – came to the fore in July after Gangwal sought market …

Have no interest in Air India, only IndiGo: Qatar Airways CEO
5 years, 4 months ago

Have no interest in Air India, only IndiGo: Qatar Airways CEO

India TV News  

Qatar Airways has no interest in buying a stake in Air India, its CEO said on Thursday, as the government plans roadshows in Singapore and London to entice investors for the Indian national carrier's disinvestment. Qatar Airways CEO Akbar Al Baker added that he is interested in buying a stake in IndiGo but this is not the right time as …

IndiGo parent InterGlobe Aviation shares fall 3% after DGCA directive against PW engines
5 years, 5 months ago

IndiGo parent InterGlobe Aviation shares fall 3% after DGCA directive against PW engines

Firstpost  

Shares of InterGlobe Aviation fell 3 percent on Tuesday after the DGCA asked IndiGo not to use A320 Neo planes which are fitted with PW engines that have already been used for over 3,000 hours, or face grounding of aircraft New Delhi: Shares of InterGlobe Aviation fell 3 percent on Tuesday after the DGCA asked IndiGo not to use A320 …

IndiGo close to placing a near-record order for more than 300 Airbus jets worth at least $33 bn
5 years, 5 months ago

IndiGo close to placing a near-record order for more than 300 Airbus jets worth at least $33 bn

Firstpost  

Indian budget airline IndiGo is close to placing a near-record order for more than 300 Airbus A320neo-family jets worth at least $33 billion at recent catalogue prices to cement its position as India’s largest carrier by market share New Delhi/Paris: Indian budget airline IndiGo is close to placing a near-record order for more than 300 Airbus A320neo-family jets worth at …

InterGlobe Aviation shares tumble 7 per cent after Q2 earnings
5 years, 5 months ago

InterGlobe Aviation shares tumble 7 per cent after Q2 earnings

India TV News  

Shares of budget carrier IndiGo's parent InterGlobe Aviation on Friday tumbled 7 per cent after the company posted a net loss of Rs 1,062 crore for the September quarter. On the NSE, the company's scrip tumbled 6.84 per cent to Rs 1,551. Aftermarket hours on Thursday, the company posted a net loss of Rs 1,062 crore for the September quarter, …

IndiGo reports ₹1,066 crore loss in Sept-quarter as costs surge
5 years, 5 months ago

IndiGo reports ₹1,066 crore loss in Sept-quarter as costs surge

Live Mint  

IndiGo, India's biggest airline, reported a bigger loss in the September quarter, hurt by higher expenses and as the aviation industry grapples with slowing passenger growth in a sluggish economy. The airline's owner InterGlobe Aviation Ltd's net loss in the three months to Sept. 30 widened to ₹1,066 crore from ₹652 crore in the same period last year. The results …

IndiGo promoter feud: Rahul Bhatia, InterGlobe Enterprises seek arbitration proceedings in London
5 years, 5 months ago

IndiGo promoter feud: Rahul Bhatia, InterGlobe Enterprises seek arbitration proceedings in London

Firstpost  

InterGlobe Aviation is the parent of IndiGo, the country’s largest airline in terms of domestic market share New Delhi: IndiGo promoters—InterGlobe Enterprises and Rahul Bhatia—have sought arbitration proceedings in London against the backdrop of differences with co-promoter Rakesh Gangwal. In a filing to the stock exchanges on Tuesday, InterGlobe Aviation said the two entities have submitted a request for arbitration …

IndiGo’s Rahul Bhatia files arbitration request in LCIA against Rakesh Gangwal
5 years, 5 months ago

IndiGo’s Rahul Bhatia files arbitration request in LCIA against Rakesh Gangwal

Live Mint  

The fragile truce between the two co-founders of InterGlobe Aviation Ltd, which runs budget airline IndiGo, appears to be all but broken, with Rahul Bhatia submitting an arbitration request against Rakesh Gangwal on Tuesday before the London Court of International Arbitration. Ltd and Rahul Bhatia have submitted a request for arbitration to the LCIA under the shareholder agreement of InterGlobe …

Sebi seeks response from IndiGo on fresh Gangwal letter
5 years, 6 months ago

Sebi seeks response from IndiGo on fresh Gangwal letter

India TV News  

Markets regulator Sebi has sought response from InterGlobe Aviation on a fresh letter by the company's co-promoter Rakesh Gangwal regarding corporate governance issues. Gangwal and co-promoter Rahul Bhatia have differences over certain corporate governance matters at InterGlobe Aviation, the parent of the country's largest airline IndiGo. In a filing to the stock exchanges on Wednesday, InterGlobe Aviation said Sebi has …

InterGlobe Aviation gets nod to expand board size to 10
5 years, 7 months ago

InterGlobe Aviation gets nod to expand board size to 10

Live Mint  

InterGlobe Aviation Ltd, which operates India’s largest airline, IndiGo, on Wednesday said its shareholders have approved the alteration of the company’s Articles of Association to expand the size of the board to 10 from six, as well as reappointment of promoter Rahul Bhatia as a director and reappointment of chairman M. Damodaran as an independent director for five years. Mint …

IndiGo’s board approves new related party transaction policy: Gangwal
5 years, 7 months ago

IndiGo’s board approves new related party transaction policy: Gangwal

Live Mint  

New Delhi: The board of directors of InterGlobe Aviation Ltd., the company that operates the country's largest airlines IndiGo, has approved a new policy on related-party transaction, IndiGo's co-promoter Rakesh Gangwal said on Friday. "The Board also has now approved a new related party transaction policy and to close an open issue if the Articles of Association are amended at …

IndiGo co-promoter Gangwal questions chairman in letter
5 years, 7 months ago

IndiGo co-promoter Gangwal questions chairman in letter

Live Mint  

Mumbai: InterGlobe Aviation Ltd’s co-promoter Rakesh Gangwal has questioned chairman M. Damodaran for not adopting the agreed related-party transactions policy, and calling board and committee meetings after the company’s annual general meeting slated for 27 August. In a 6 August letter addressed to Damodaran, board members of InterGlobe Aviation-run IndiGo and the airline’s chief executive officer Ronojoy Dutta, Gangwal said …

Rakesh Gangwal's fear of Bhatia group pushing questionable decisions does no credit to directors: IndiGo chairman M Damodaran
5 years, 7 months ago

Rakesh Gangwal's fear of Bhatia group pushing questionable decisions does no credit to directors: IndiGo chairman M Damodaran

Firstpost  

New Delhi: Amid the ongoing feud between promoters, IndiGo Chairman M Damodaran has said Rakesh Gangwal’s apprehension that Rahul Bhatia’s group could push through questionable decisions after board expansion does no credit to the fiduciary responsibilities of directors. In a letter to the board of InterGlobe Aviation on 5 August, Gangwal said there are “serious unresolved issues” and that proposed …

IndiGo co-founder Rakesh Gangwal says feud with Rahul Bhatia still unresolved
5 years, 7 months ago

IndiGo co-founder Rakesh Gangwal says feud with Rahul Bhatia still unresolved

Live Mint  

A co-founder of India's biggest airline IndiGo, Rakesh Gangwal, said reports that a truce had been brokered between him and another co-founder Rahul Bhatia over disagreements on corporate governance were "false and misleading." In a letter dated Aug. 5, Gangwal told the board of IndiGo's parent InterGlobe Aviation Ltd that issues between him and Bhatia remained unresolved. At the centre …

IndiGo crisis: Gangwal says provided information on RPTs to relevant authorities
5 years, 8 months ago

IndiGo crisis: Gangwal says provided information on RPTs to relevant authorities

Live Mint  

The feud between the promoters of the country's largest domestic airline IndiGo has just intensified, with promoter Rakesh Gangwal on Tuesday stating that he has provided information on related party transactions between IndiGo and co-promoter Rahul Bhatia-controlled InterGlobe Enterprises to the 'relevant authorities'. Gangwal, had earlier in an 8 July letter, addressed to Sebi chairman Ajay Tyagi, alleged several violations …

IndiGo crisis: What is at stake?
5 years, 8 months ago

IndiGo crisis: What is at stake?

Live Mint  

New Delhi: It is a busy day at Interglobe Aviation Ltd., the company that runs India's largest airline IndiGo. If not settled quickly, the shareholder dispute could dent investor confidence, delay decision making on key issues and invite avoidable regulatory attention. Already, the ministry of corporate affairs has asked the company for its comments on the charges of corporate governance …

I have no desire to sell my stake in IndiGo, here for the long haul: Gangwal
5 years, 8 months ago

I have no desire to sell my stake in IndiGo, here for the long haul: Gangwal

Live Mint  

Rakesh Gangwal, the co-founder of IndiGo, said he won’t sell his shareholding in India’s largest airline and will maintain his stake amid a feud with his partner Rahul Bhatia. “I am here for the long haul,” Gangwal, who has accused Bhatia of corporate governance lapses, said by phone. “I have no desire to sell my stake or raise my stake.” …

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