IndiGo Co-Founder and Managing Director Rahul Bhatia on Monday has clarified that the recent stake sale by InterGlobe Enterprises was solely to raise funds for business and general corporate purposes, with Bhatia himself stating that he and the company are “here to stay.”
Amid ongoing concerns about a major stakeholder divesting shares during the airline’s ambitious expansion plans, recent remarks have come into focus.
In June, InterGlobe Enterprises Pvt Ltd sold 7.72 million shares, which accounts for approximately 2 percent of InterGlobe Aviation’s total share capital, the parent company of IndiGo.
At an event celebrating IndiGo’s 18 years of operation, an emotional Bhatia addressed the crowd, explaining that the sale of the stake was intended to generate funds for business and general corporate needs.
“It (stake sale) is no more complex than that… InterGlobe and I are here to stay,” Bhatia said in the national capital.