InterGlobe Aviation founders to sell 2.91% stake for $197 million

InterGlobe Aviation Ltd, the owner of India`s biggest airline IndiGo, on Tuesday said two of its founder group companies will in this week sell a combined 2.91 percent stake in the company worth about Rs 12.65 billion ($196.5 million).

Acquire Services Pvt Ltd plans to sell about 8 million shares in InterGlobe while IGE (Mauritius) Pvt Ltd will offload 3.2 million shares in a stock market auction on Wednesday and Thursday, according to a regulatory filing.

The shares will be sold at a floor price of 1,130 rupees each, the filing showed.