Indigo shares fall up to 3 per cent amid block deal buzz; Gangwal likely seller

Indigo shares are in focus in Thursday's trade (August 29) was last down nealry 2 per cent at Rs 4,770 as the company's promoter may offload 10,300 crore stake in the company via a block deal. Reports suggest that the floor price for the deal is pegged at Rs 4,593 per share, a 5.5 per cent discount in comparison to the last closing price.

Lately, the stock has been making new highs as it is foraying into new areas of growth. The company's stock in the previous day hit a record high of Rs 4,944.6 per share on the BSE.

The company's promoter Rakesh Gangwal has said that he will pare stake in the entity gradually.

A total of 5.8 per cent stake or 2.25 crore shares in the air carrier is expected to be pared in the block deal via the company's promoter and Co-founder Rakesh Gangwal.

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