InterGlobe Enterprises Private Limited, one of the promoters of InterGlobe Aviation Limited (NSEI:INDIGO), is planning to sell around 2% stake in the company through a block deal, according to reports. The stake sale value is said to be around $394 million, where the promoter will offload 7.7 million shares at INR 4,266 apiece. The transaction will be done at 6% discount to the last closing price of IndiGo's shares.

IndiGo is majority owned by promoters with 57.29% stake, under which Rahul Bhatia and Co-Founder Rakesh Gangwal also have a holding. InterGlobe Enterprises, which is planning the latest stake sale, is a Rahul Bhatia- promoted entity.