InterGlobe Board Okays Issue of 33.6 Mn Shares to Institutional Buyers | CORPORATE ETHOS

InterGlobe Board Okays Issue of 33.6 Mn Shares to Institutional Buyers

By: | September 12, 2017
indigo

Sep 12:  The director board of IndiGo Airlines promoter InterGlobe Aviation has given the nod for issuing equity shares up to 33.6 million to qualified institutional buyers.

InterGlobe said in a stock exchange filing that the placement would include issue of fresh equity shares of up to 22.4 million and offer for sale of up to 11.2 million shares by promoters, including Rakesh Gangwal and Chinkerpoo Family Trust.

Rakesh Gangwal and Chinkerpoo Family Trust owned 16.83 percent and 15.59 percent stake in the company respectively as of June 30, a report said.