WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com

您当前语言与浏览器默认语言不一致，是否切换？

切换

Global Broker Regulation & Inquiry App

Broker Search

English

简体中文

繁體中文

English

Pусский

日本語

ภาษาไทย

Tiếng Việt

Bahasa Indonesia

Español

हिन्दी

Filippiiniläinen

Français

Deutsch

Português

Türkçe

한국어

العربية

Download

Home -

Industry -

Main body -

WikiFX Express

India won't impose restrictions on laptop imports, official says

IndiGo co-founder Gangwal in talks to buy 'sizable' stake in SpiceJet, ET Now reports

WikiFX

| 2023-10-13 13:17

Abstract：BENGALURU, Oct 13 (Reuters) - Indias IndiGo (INGL.NS) co-founder Rakesh Gangwal is in talks to buy a

BENGALURU, Oct 13 (Reuters) - Indias IndiGo (INGL.NS) co-founder Rakesh Gangwal is in talks to buy a \“sizable\” stake in troubled domestic airline SpiceJet , ET Now reported on Friday, citing sources.

The news sent SpiceJets shares up as much as 20%, before closing 19.4% higher.

Cash-strapped SpiceJet, which is \“struggling to stay afloat\”, has been scrambling to raise funds and restore operations for about a fourth of its fleet that has been grounded amid fierce competition in the sector.

SpiceJet, whose market share slid to 4.4% as of September-end from 7.3% at the end of January, did not immediately respond to Reuters request for comment on the report.

Gangwal, who along with his wife Shobha Gangwal holds 16.22% in IndiGo-operator InterGlobe Aviation, could not be immediately reached for comment.

Gangwals Chinkerpoo Family Trust holds a 13.5% stake in Indigo, according to exchange data.

IndiGo shares closed up 1% on Friday.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.