Team Blitz India
NEW DELHI: Shares of InterGlobe Aviation fell by 4% after a block deal involving 83.7 lakh shares, representing a 2.2% stake in the company, took place on the exchanges. The block deal was executed at an average price of Rs 4,406 per share, amounting to a total of Rs 3,689 crore, Moneycontrol reported.
Although the parties involved in the transaction were not identified, the report indicated thatInterGlobeEnterprises Private, the holding company of Rahul Bhatia’s family, was looking to reduce its stake in the carried by around 2%, worth approximately $394 million, through the block deal.
Rahul Bhatia and his family members, who are promoters of InterGlobe Aviation, hold a 37.75% stake in the carrier through their holding company InterGlobe Enterprises.
Over 9.98 lakh equity shares ofIndiGO, valued at Rs 3,493.41 crore, were traded on the BSE, while more than 16.57 lakh equity shares worth over Rs 733.94 crore exchanged hands on the National Stock Exchange (NSE).
In terms of stock performance, InterGlobe Aviation shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 7.69% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 50.26%, indicating a strong upward trend.
Year-to-date, InterGlobe Aviation shares have surged by 47.59%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 82.33% in the last twelve months, emphasizing its sustained growth
