Four promoter entities of the company -- Rakesh Gangwal, Shobha Gangwal, Asha Mukherjee and Chinkerpoo Family Trust -- mopped up Rs 1,265 crore through the institutional placement of shares.
An allotment of around 3.36 crore shares at a price of Rs 1,130 apiece has been approved by the company's issue of securities committee of the board today, a filing to the BSE said.
The total proceeds from the sale of these shares to qualified institutional buyers would amount to around Rs 3,795 crore.
InterGlobe Aviation got listed on the exchanges in November 2015 and the promoters' holding stood at 85.88 per cent at the end of June 2017.
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The company is required to have at least 25 per cent public shareholding within three years of listing. Against this backdrop, promoter entities are selling shares of the company.
Citigroup Global Markets India, J P Morgan India and Morgan Stanley India Company are the book running lead managers to the issue.