Shobha Gangwal, the wife of IndiGo co-founder Rakesh Gangwal has offered the sale of a 4% stake in the airline worth USD 353.8 million. The shares sold are shares of the airline’s parent company, InterGlobe Aviation.
Rakesh Gangwal at present holds a 13.23% stake in InterGlobe Aviation, while his wife Shobha Gangwal holds a stake of 7.04%.
IndiGo’s co-founders Rakesh Gangwal and Rahul Bhatia have been in a dispute since 2015 due to a shareholder agreement that allowed Rahul Bhatia more control over the airline even though their stakes were similar.
Following the announcement of Rakesh Gangwal resigning from the parent's company’s board of directors in February 2022 the Gangwal family began to sell their stake in the company. Prior to this the Gangwal family and their trust owned a 37% stake in the company.