IndiGo promoter sells about 2% share

IndiGo is India’s largest airline and carries six out of 10 domestic passengers. Bhatia will continue his role as a promoter and managing director of the company

Interglobe Enterprise, in a statement, said that the proceeds of the sale will be utilized for scaling up its hospitality and other businesses it is incubating, as well as for general corporate purposes.

Bhatia, in the statement, added that the strong response received from both existing and new investors demonstrates the competitive strength and long-term prospects of IndiGo.

“ IndiGo is a standout success, and I am immensely proud of our company’s journey so far and remain very excited to continue to oversee IndiGo’s next phase of growth. I believe there is a long runway for growth as India continues to remain the fastest growing aviation market globally and we have the right strategy and management team in place to capture this opportunity,”

In December last year, announced the introduction of a new lifestyle hotel brand, Miiro, to launch a collection of individually designed hotels in European cities. The chain will make its debut this summer in Paris and Barcelona, with more European markets in plan.

The group also owns 21 hotels in India through a joint venture with hospitality major Accor group.

Bhatia has also recently teamed up with former Tech Mahindra CEO CP Gurnani to start a company that will offer artificial intelligence services to companies in the travel, transportation, logistics and hospitality industry.

Over the last eight months, shares of IndiGo have risen sharply.

Analysts have said that the company will continue to trade high as its rivals will see another year of stiff losses in FY2025 and will not have a meaningful boost to aggregate supply over this period.