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IndiGo’s co-promoter Rakesh Gangwal on Friday resigned from the board of administrators of dad or mum firm InterGlobe Aviation, stating that he’ll regularly scale back the fairness stake within the airline over the following 5 years.
Gangwal and his associated entities personal round 37 per cent stake on this firm. Rahul Bhatia and his associated entities personal round 38 per cent in InterGlobe Aviation.
“I’ve been a long-term shareholder within the firm for greater than 15 years and it’s solely pure to sometime take into consideration diversifying one’s holdings,” Gangwal stated in his letter to the board members.
“Accordingly, my present intention is to slowly scale back my fairness stake within the firm over the following 5 plus years,” he added.
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