IndiGo co-founder Rahul Bhatia addresses stake sale rumours, asserting, ‘We’re here to stay’

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Rahul Bhatia, the managing director and co-founder of IndiGo, explained on Monday that InterGlobe Enterprises’ recent equity sale was just intended to earn money for general corporate reasons and business needs. Bhatia further declared that the company and he are “here to stay.”

Recent comments have drawn attention amid continued worries about a significant stakeholder selling shares during the airline’s aggressive expansion plans.

7.72 million shares, or roughly 2 percent of InterGlobe Aviation’s entire share capital—the parent company of IndiGo—were sold by InterGlobe Enterprises Pvt. Ltd. in June.

At an event marking IndiGo’s 18 years of operation, a tearful Bhatia explained to the audience that the purpose of selling the stake was to secure funding for business operations and other corporate needs.

“The stake sale is really that straightforward… InterGlobe and I are committed to staying,” Bhatia stated in the national capital.