InterGlobe Enterprises, the parent company of India’s largest airline IndiGo, on Friday dismissed reports suggesting it is planning to sell a portion of its stake in the carrier as “speculative” and “without factual basis.”
“Reports in some sections of the media on a stake sale by InterGlobe Enterprises are speculative and have no factual basis,” the company said in a statement. “InterGlobe Enterprises is firmly committed to oversee IndiGo’s long-term plans and currently, the airline’s next phase of growth remains our primary focus.”
Shares of InterGlobe Aviation Ltd are trading at ₹5,367.50, up ₹105.50 or 2.00% today.
The statement comes after media reports claimed that InterGlobe was considering offloading up to a 4% stake in IndiGo via block deals to raise as much as $1 billion (approximately ₹8,600 crore).
The speculation comes after significant stake sales by IndiGo co-founder Rakesh Gangwal.
Earlier media reports had suggested that Rahul Bhatia, co-promoter and managing director of InterGlobe Enterprises, was likely to be the seller in a planned block deal involving up to a 4% stake in IndiGo.
The deal would have marked Bhatia’s second stake sale in the airline in just over a year.
As of March 2025, promoters and promoter group entities held a combined 49.27% stake in InterGlobe Aviation, the parent company of budget airline IndiGo. InterGlobe Enterprises, led by Bhatia, controlled 35.71%, while Rakesh Gangwal and his associated entities held 13.53%, according to stock exchange filings. Bhatia himself held a 0.1% stake in his personal capacity.
Gangwal, who stepped down from the board in 2022 and announced plans to gradually exit the airline, has been steadily paring his stake. On May 27, 2025, he and related entities offloaded a 5.8% stake in the company.
Meanwhile, IndiGo has reported strong earnings. For the fourth quarter of FY25, the airline’s net profit jumped 62% year-on-year to ₹3,068 crore. Operating revenue rose 24% to ₹22,151.9 crore from ₹17,825.3 crore a year ago. EBITDAR, a key measure of operating performance, surged to ₹6,948.2 crore from ₹4,412.3 crore, with margins improving to 31.4% from 24.8%.
Source: Economic Times