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IndiGo co-founder Rakesh Gangwal is reportedly considering purchasing a stake in rival budget carrier SpiceJet. The size of the stake is expected to be significant, and talks between Gangwal and the airline are said to be at an advanced stage. SpiceJet is currently facing financial challenges and is seeking funds due to a cash crunch. The airline has been dealing with repossession cases from lessors and has grounded a quarter of its fleet. Gangwal s potential stake purchase has led to a surge in SpiceJet s share price. ....
IndiGo co-founder Rakesh Gangwal may buy 'sizable' stake in SpiceJet, says report - Airlines/Aviation News financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
IndiGo promoter sells 2.9% stake worth Rs 2,801 crore tribuneindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneindia.com Daily Mail and Mail on Sunday newspapers.
Rakesh Gangwal and his wife, Shobha Gangwal, held about 13.23% and 2.99%, respectively, in IndiGo at the end of June quarter, while their Chinkerpoo Family Trust holds a 13.5% stake, according to exchange data ....