Rakesh Gangwal family eyes $250 million from IndiGo share sale

NEW DELHI: Rakesh Gangwal, the billionaire co-founder of IndiGo, has offered to sell part of his family’s stake in the airline for around $250 million, possibly putting to rest a three-year old dispute between the owners.

The Gangwal family is offering as many as 10. 8 million shares in InterGlobe Aviation at Rs 1,850 apiece, according to terms of the deal. The floor price represents a discount of 6. 5% to Wednesday’s close, according to the terms.