IndiGo stock tanked 4 per cent in Tuesday’s trade amid reports that Interglobe Enterprises would sell a 2 per cent stake, worth $394 million, according to a term sheet seen by Reuters.
As per the term sheet, Interglobe Enterprises, which has a 37.75 per cent stake in Interglobe Aviation, will sell the shares at a base price of ₹4,266 each.
Rahul Bhatia, co-founder of IndiGo, will sell the stake in block deals.
Shares of IndiGo traded at ₹4,401 on the NSE, lower by 3.63 per cent as of 10.40 am.
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