Shares of InterGlobe Aviation, the parent company of IndiGo, were trading in the red and 1.6% lower on 13 June after 5.21 lakh shares of the company changed hands on the exchanges via a block deal. 

A block deal involving 5.21 lakh shares of the company happened on the exchanges at an average price of Rs 4,300 per shares, taking the total transaction value to Rs 224 crore. 

This comes after the company sold a 2.2% stake in the low-cost carrier for a total deal value of Rs 3,689 crore. InterGlobe Enterprise is the promoter company of InterGlobe Aviation and is the holding company of Rahul Bhatia’s family. 

Citigroup Global Markets Mauritius purchased 31 lakh shares, or 0.81%, of the aviation company for a total consideration of Rs 1,362 crore.

In its quarterly earnings for January-March, the company reported a 106% year-on-year increase in consolidated net profit to Rs 1,894.82 crore for the quarter from Rs 919.20 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations of the company during the quarter stood at Rs 17,825.27 crore, marking a 25.9% YoY increase from Rs 14,160.6 crore last year. 

At 3:30 pm, the shares of InterGlobe Aviation closed 0.010% lower at Rs 4,299.95 on NSE.