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.
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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.
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