Citi Buys IndiGo Shares After Promoter Trims Stake For Rs 3,367 Crore
Citigroup Global Markets Mauritius mopped up 31.2 lakh shares at Rs 4,361 apiece.
US-based Citigroup Inc. bought InterGlobe Aviation Ltd. shares through an affiliate on Tuesday via open market deals for Rs 1,362 crore. The acquisition was made after a promoter entity trimmed its stake.
Citigroup Global Markets Mauritius Pvt. mopped up 31.2 lakh shares at Rs 4,361 apiece, according to bulk deal data on the BSE.
Promoter InterGlobe Enterprises Ltd. sold 77.2 lakh shares for an aggregate amount of Rs 3,367 crore. The entity held a 37.75% shareholding as of March.
The total promoter stake in the IndiGo airline operator is 57.29%.
In March, co-founder Rakesh Gangwal pared his stake in the parent company for Rs 6,785 crore through open market deals. He sold 2.25 crore shares—representing 5.82% equity.
Foreign portfolio investors increased their ownership to 23.66% from 18.7% in the December quarter.
Shares of InterGlobe Aviation closed 4.26% lower at Rs 4,368.2 apiece, as compared with a flat BSE Sensex.
