InterGlobe Aviation shares tank nearly 8% amid reports of rift between IndiGo promotershttps://indianexpress.com/article/business/market/interglobe-aviation-shares-tank-nearly-8-amid-reports-of-rift-between-indigo-promoters-5730641/

InterGlobe Aviation shares tank nearly 8% amid reports of rift between IndiGo promoters

The founders of budget carrier Indigo — Rahul Bhatia and Rakesh Gangwal — have reportedly locked horns over strategies and ambitions for the airline.

InterGlobe Aviation shares tank nearly 8% amid reports of rift between IndiGo promoters
Promoters hold about 75 per cent stake in InterGlobe Aviation as per March quarter shareholding pattern on the BSE. (Express Flie Photo)

Shares of InterGlobe Aviation Limited dropped nearly 8 per cent Thursday amid reports of an alleged rift between the promoters of IndiGo. The scrip tumbled 7.55 per cent to Rs 1,487.10 on the BSE. On NSE, shares tanked 7.73 per cent to Rs 1,485.75.

On the traded volume front, 1.77 lakh shares were traded on BSE and over 33 lakh shares on the NSE during the morning trade.

Read | Our growth strategy remains unchanged: IndiGo CEO after reported disagreement between promoters

According to media reports, the founders of the budget carrier — Rahul Bhatia and Rakesh Gangwal — locked horns over strategies and ambitions for the airline.

Promoters hold about 75 per cent stake in InterGlobe Aviation as per March quarter shareholding pattern on the BSE.