InterGlobe Aviation board to dilute promoter stake

InterGlobe Aviation board to dilute promoter stake

By DSIJ Team |
7/21/2017 4:02 PM Friday

On Thursday, InterGlobe Aviation board said that the board on July 31, 2017 will dilute promoter stake to comply with regulatory norms. 

Interglobe Aviation Limited is engaged in the provision of passenger services. and in the business of providing domestic and international scheduled air transport services under the name of IndiGo. IndiGo is controlled by Rahul Bhatia and Rakesh Gangwal. 

A leading business daily reported that companies need to ensure minimum public shareholding of 25% within three years of listing. InterGlobe has to reduce its promoters’ holding from 85% to 75% to meet the regulatory norm.

The stock traded in negative territory slipping marginally by 0.12% at Rs 1240.50 per share.

The stock on NSE attracted a traded volume of 3,08,253 shares and a traded value of 3,803.07 lakh.

 

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