BENGALURU (Reuters) – Shares of InterGlobe Aviation dropped as much as 3.5% in early trade on Monday, after co-founder of Indigo, the airline that it operates, said he would resign from the board and has plans to cut his stake in the airline.
Rakesh Gangwal, in a letter to the board of InterGlobe Aviation on Friday, said he was stepping down immediately, as he did not want to hold access to unpublished price sensitive information while he began trimming his stake in the company.
(Reporting by Rama Venkat in Bengaluru; Editing by Rashmi Aich)
