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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Gangwal, in keeping with his February 2022 announcement of a near-complete exit from the airline in five years, has been paring his stake at regular intervals.
Shares of low-cost Indian carrier IndiGo were in focus on Thursday after promoter and co-founder Rakesh Gangwal sold a 5.2% stake in parent InterGlobe Aviation at a little over Rs 9,548 crore. Gangwal executed the deal through the Chinkerpoo Family Trust. Twenty-seven million shares were sold in tranches at roughly Rs 4,715 apiece, according to BSE data.
Morgan Stanley is among the buyers and has picked up around 2.8 million shares.
Gangwal is seeking a near-complete exit from the company. In February 2022, he stepped down from the board of InterGlobe Aviation and announced that he would gradually offload his …
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
As the low-cost carrier pushes through a compensation overhaul, the absence of a CEO is complicating a delicate moment.
A month on, CAS has only amplified volatility, manipulation and confusion rather than containing them.
