FTSE is expected to include additional floating shares in its index within the next few days, potentially leading to a passive flow of approximately $15 million. This information was provided by Abhilash Pagaria, an expert from Nuvama Institutional Equities. The inclusion of these shares in the FTSE index could impact trading activity and investment strategies, potentially attracting increased investor attention and capital flow. However, the actual impact may vary depending on market conditions and investor sentiment at the time of inclusion.
Shares of InterGlobe Aviation (IndiGo) are expected to experience inflows of approximately $44 million due to reports of the Gangwal family, the promoter group, potentially selling shares worth up to Rs 3,730 crore or $450 million via block deals. The family has put 1.56 crore shares on the block with a floor price of Rs 2,400 per share, representing a 5.8% discount to the closing price of Monday. This potential transaction could attract significant investor interest and impact the trading activity and valuation of IndiGo’s shares. However, market conditions and investor sentiment may ultimately determine the actual impact of this share sale on the company’s stock.
Abhilash Pagaria, an expert from Nuvama Institutional Equities, has stated that FTSE is likely to include additional floating shares in the next few days. This inclusion is anticipated to result in a passive flow of around $15 million. The inclusion involves approximately 0.5 million shares, and the resultant volume impact is expected to span over a period of 0.5 days. This action could have implications for trading activity and potentially attract investor attention to the affected shares. However, the actual impact may depend on market conditions and investor response at the time of inclusion.
According to the report, the Gangwal family is initiating a block deal to sell shares worth $450 million. The deal is being facilitated by bankers Morgan Stanley, JPMorgan, and Goldman Sachs. The family intends to offer 5.6% of its shares at a floor price of Rs 2,400 ($32.27) per share. In the first quarter (Q1), IndiGo reported a net profit of Rs 3,090 crore ($414.98 million) and generated a revenue of Rs 17,160 crore ($2.30 billion), as stated in the report. This block deal could impact IndiGo’s share price and trading activity, while the involvement of major banks underscores its significance within the market.
