The co-founder of IndiGo sold this much stake in the company, getting Rs 9,549 crore

India's aviation sector is once again witnessing a major change. The co-founder of the country's largest airline IndiGo has sold a part of his stake in the company. In return for this deal, he received an amount of Rs 9,549 crore.

9,599 crore deal

Actually, IndiGo is owned by InterGlobe Aviation. Its co-founder Rakesh Gangwal's family trust has sold its 5.24 percent stake in the company. According to PTI news, this equates to around 2.25 crore shares of the company. The deal is worth Rs 9,599 crore.

Deal of over 2.02 crore shares of Indigo completed

The Rakesh Gangwal Family Trust received a price of over Rs 4,715 for each Indigo share in the deal. His family trust 'Chinkarpu Family Trust' has completed the deal of over 2.02 crore shares of Indigo in three installments. Its price range is Rs. 4,714.95 to Rs. 4,715.89 was

Orders for new aircraft were placed

IndiGo is the largest airline of the country. The company's share in India's aviation market is more than 60 percent. After the acquisition of Air India by the Tata Group, it has now become IndiGo's main competitor. Both the companies are expanding rapidly and this has led to massive new aircraft orders.

Indigo has recently launched several new initiatives. The company is going to increase its number of women pilots from 800 to 1000. At the same time, the company has also recently introduced an option to exempt passengers from gender identification at the time of ticket booking.