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IndiGo parent, InterGlobe Aviation's shares tank nearly 8% on reports of alleged rift between promoters

New Delhi: Shares of InterGlobe Aviation Limited dropped nearly 8 percent on Thursday amid reports of an alleged rift between the promoters of IndiGo.

 IndiGo parent, InterGlobe Aviations shares tank nearly 8% on reports of alleged rift between promoters

IndiGo Airlines aircraft. Reuters

The scrip tumbled 7.55 percent to Rs 1,487.10 on the BSE.

On NSE, shares tanked 7.73 percent to Rs 1,485.75.

On the traded volume front, 1.77 lakh shares were traded on BSE and over 33 lakh shares on the NSE during the morning trade.

According to media reports, the founders of the budget carrier — Rahul Bhatia and Rakesh Gangwal — locked horns over strategies and ambitions for the airline.

Promoters hold about 75 percent stake in InterGlobe Aviation as per March quarter shareholding pattern on the BSE.

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Updated Date: May 16, 2019 13:15:04 IST