- LATEST
- WEBSTORY
- TRENDING
BUSINESS
IndiGo's Rakesh Gangwal makes HUGE investment in US Airline, buys 3600000 shares worth Rs....
This comes months after Gangwal and his family trust sold a total of 5.83 per cent stake in the carrier for about Rs 10,500 crore.
Updated : Oct 04, 2024, 06:00 PM IST
 "IndiGo's Rakesh Gangwal makes HUGE investment in US Airline, buys 3600000 shares worth Rs....")
TRENDING NOW
)
Shruthi Narayanan lashes out at netizens for 'spreading' her leaked MMS, warns legal action: 'Go and enjoy your mother, sister videos'
)
Sikandar box office collection day 7: Salman Khan, Rashmika Mandanna film fails to cross Rs 100 crore mark by...
)
Casting couch scandals resurface: Tamil actress Shruthi Narayanan's viral video sparks fresh debate in film industry
)
SRH vs GT IPL 2025 Dream11 prediction: Fantasy cricket tips, probable playing XIs, team news, injury updates for Sunrisers Hyderabad vs Gujarat Titans
)
Throwback video: Mukesh Ambani would want to go on date with this actress, while Nita Ambani with this politician
)
Forget Aabha Paul, check out 5 hot pics, videos of Kangana Sharma
)
After leaked casting couch video, Shruthi Narayanan's old statement about social media goes viral: 'You can't share everything, it might...'
)
Meet OYO founder Ritesh Agarwal's wife Geetansha Sood, supported him when he had only Rs 30 in his pocket, she is director of...
)
Who is Rishi Parti, man who bought most expensive penthouse at Gurugram's DLF Camellias for Rs 190 crore, built company at 24, his business is...
)
Meet Chandrakumari Raghuram Shetty, wife of BR Shetty, Dubai billionaire who had to sell his company for just Rs 74
)
Panchayat Season 4 release date: Jitendra Kumar aka Abhishek Tripathi is back as Sachiv ji; Prime Video's hit show to release on...
)
10 most handsome men in the World: This BTS member beats Hrithik Roshan, Chris Evans, Brad Pitt
)
XXX actress Aabha Paul looks sizzling in sexy photos
)
This superstar 'lost control' during intimate scene with Madhuri Dixit, bit her lip, left her bleeding, in tears, film became superhit, it was..
)
'You don't have image or talent': Meet 'average actor' who was insulted by Rishi Kapoor, he later became star with.., has net worth of...
Rakesh Gangwal, co-founder of IndiGo, is a well-known name in the aviation industry. He co-founded the now Rs 1.78 lakh crore market cap airline with Rahul Bhatia in 2006. But, he has been trimming his stake in IndiGo, following a fallout with the airline's co-founder. Amid the issue, he has made a huge investment in American carrier Southwest Airlines. Gangwal has acquired 3.6 million (36 lakh) shares of the airline for USD 108 million or around Rs 906 crore.
According to seven filings made by Southwest to the US Securities and Exchange Commission (SEC), Gangwal has purchased 3.6 million shares of the airline through multiple transactions, with prices ranging between USD 29-30 apiece. Together, the shares are worth around USD 108 million and the transactions were done on September 30 and October 1, as per the filings.
An aviation industry veteran, Gangwal joined Southwest in July this year amid Elliott Investment Management, one of the airline's largest shareholders, seeking sweeping changes at the carrier. Earlier In August this year, Gangwal and his family trust sold a total of 5.83 per cent stake in the carrier for about Rs 10,500 crore. After the share sale, Gangwal's stake in InterGlobe Aviation -- parent of IndiGo -- came down to 5.31 per cent from 5.89 per cent while that of Chinkerpoo Family Trust reduced to 8.24 per cent from 13.49 per cent.
READ | Anil Ambani's Reliance Power approves Rs 4200 crore plan as shares hit over...
The combined shareholding of Gangwal and Chinkerpoo Family Trust has fallen to 13.55 per cent from 19.38 per cent. Amid differences with Bhatia, Gangwal, in February 2022, resigned from the board of directors of InterGlobe Aviation, saying he would gradually reduce his equity stake in the airline over the next five years.
(With inputs from PTI)
