Bhatia family, promoters of IndiGo, considering sale of 2% stake
AVIATION & AIRPORTS

Bhatia family, promoters of IndiGo, considering sale of 2% stake

According to a term sheet that ET examined, the Bhatia family, who are the promoters of IndiGo, the biggest airline in India, is expected to sell a 2% interest in the business on Tuesday for about $394 million in a block sale. After the IPO, the Bhatia family is selling their share of InterGlobe Aviation for the first time. According to BSE records, as of March 2024, Rahul Bhatia, one of the company's proprietors, owned 37.91% of the business through InterGlobe Enterprises Private Ltd., which is identified as the seller in the term sheet. The combined family holdings of the Bhatia and Gangwal families comprise 57.29% of InterGlobe Aviation. According to the terms of the block sale, the seller will have a 365-day lock-up period afterward. 7.71 million shares, the closing price on Monday, are being offered for sale by the sellers, with prices ranging from Rs 4,266 to Rs 4,562.55 per share. The deal's financier is Citigroup. Requests for information given on Monday night were not answered by IndiGo or Interglobe Enterprise (IGE). According to people with knowledge of the situation, IGE plans to use the funds to expand its position in Europe by investing in the hotel industry. InterGlobe Enterprises stated in December of last year that it would be launching a new lifestyle hotel brand called Miiro, which would consist of a series of uniquely built hotels in cities around Europe. This summer, the chain will launch in Paris and Barcelona, with plans to expand into other European countries.

According to a term sheet that ET examined, the Bhatia family, who are the promoters of IndiGo, the biggest airline in India, is expected to sell a 2% interest in the business on Tuesday for about $394 million in a block sale. After the IPO, the Bhatia family is selling their share of InterGlobe Aviation for the first time. According to BSE records, as of March 2024, Rahul Bhatia, one of the company's proprietors, owned 37.91% of the business through InterGlobe Enterprises Private Ltd., which is identified as the seller in the term sheet. The combined family holdings of the Bhatia and Gangwal families comprise 57.29% of InterGlobe Aviation. According to the terms of the block sale, the seller will have a 365-day lock-up period afterward. 7.71 million shares, the closing price on Monday, are being offered for sale by the sellers, with prices ranging from Rs 4,266 to Rs 4,562.55 per share. The deal's financier is Citigroup. Requests for information given on Monday night were not answered by IndiGo or Interglobe Enterprise (IGE). According to people with knowledge of the situation, IGE plans to use the funds to expand its position in Europe by investing in the hotel industry. InterGlobe Enterprises stated in December of last year that it would be launching a new lifestyle hotel brand called Miiro, which would consist of a series of uniquely built hotels in cities around Europe. This summer, the chain will launch in Paris and Barcelona, with plans to expand into other European countries.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement