Introduction
InterGlobe Aviation Ltd. provides services related to air travel. The company’s operations include the regular scheduled air transportation of passengers, mail, and cargo, as well as the provision of car rental, airport lounge, visa assistance, and insurance services. With its headquarters located in Gurgaon, India, the company was launched on January 13, 2004 by Rahul Bhatia and Rakesh Gangwal.
The stake sale is also anticipated to start a 365-day lock-in period before Rahul Bhatia sponsored InterGlobe Enterprises could execute any subsequent block sales to sell more ownership in InterGlobe Aviation.
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InterGlobe Aviation’s shares dropped 4% during trading on June 11 following a block deal comprising 83.7 lakh shares, or 2.2 percent of the firm, being listed on the exchanges. The entire value of the block deal, which was completed at an average cost of Rs 4,406 per unit, was Rs 3,689 crore.
The parties to the transaction were not readily identifiable to EpicGrowth. On June 10, however, we did report that InterGlobe Enterprises Private, the holding company of the Rahul Bhatia family, was aiming to sell off about 2 percent of its $394 million investment in the low-cost carrier through a block sale.
Through their holding company, InterGlobe Enterprises, Rahul Bhatia and his family members held 37.75 percent ownership in Inter Globe Aviation, naming them as promoters of the low-cost carrier.
It’s also important to remember that the transaction will signal the start of a 365-day lock-in period before the Bhatia family can sell off additional shares.was marginally above the NSE’s day’s low of Rs 4,388 at 09.24 am. At Rs 4,445, it was trading.
For the fiscal year 2024, Inter Globe Aviation reported a profit of Rs 8,172 crore, a record. The company recorded a net profit of Rs 1,894 crore in the fourth quarter of FY24 alone, an increase from Rs 919.2 crore during the same period last year. Additionally, this was the business’s sixth straight profitable quarter.
In Q4 FY24, the airline’s revenue increased by 26% year over year to Rs 17,825.3 crore.
Encouraged by the airline’s strong financial results, InterGlobe Aviation’s stock has increased 54% so far this year.
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Interglobe Aviation Ltd., also known as IndiGo, offers transportation services for budget airlines. It provides services for both passengers and cargo. It offers a range of informational and assistance services, including online reservations with exclusive deals and discounts, baggage information, airport lounges, and travel insurance.
In 1989, Rahul founded InterGlobe, which is known for its Air Transport Management division.
What is the salary at Interglobe Technologies in India? The wage range for trainee engineers at Interglobe Technologies is roughly ₹1,90,000 per year, while the salary for team leaders is ₹5,76,954 per year.
Over the last eight months, InterGlobe Aviation’s shares, which are owned by the largest airline in India, have gained 79.37% in value, rising from ₹2,381 per share to the current trading price of ₹4,271.
Kotak maintains InterGlobe Aviation Ltd at ‘buy’ with a price target of ₹5.70K. An analyst from Kotak maintained InterGlobe Aviation Ltd (NS: INGL) at ‘buy’ with a price target of ₹5.70K from a prior price target of ₹5.10K. Prior to this rating, InterGlobe Aviation…