After a series of stake sales by Rakesh Gangwal, another major block deal appears to be taking shape in InterGlobe Aviation Limited (NSEI:INDIGO), parent company of India?s largest airline, IndiGo ? and this time, the seller is likely to be Rahul Bhatia, the co-promoter and Managing Director of InterGlobe Enterprises Private Limited. Sources in the know have told CNBC-TV18 that InterGlobe Enterprise is preparing to offload up to 4% stake in InterGlobe Aviation, aiming to raise nearly $1 billion (INR 86,000 million) through this block deal.
In case the deal fructifies, it will be the second sale by Bhatia in just over a year. InterGlobe Enterprises currently has a 35.7% stake in the airline and in case the transaction does take place, that number will come down to 32%.
