IndiGo co-founder Rahul Bhatia says he, company here to stay

New Delhi: IndiGo Co-Founder and Managing Director Rahul Bhatia on Monday said he and InterGlobe Enterprises are here to stay, saying the recent stake sale was to raise funds for business and general corporate purposes.

His remarks also come against the backdrop of concerns in certain quarters about a promoter entity selling stake amid ambitious expansion plans of the airline.

In June, InterGlobe Enterprises Pvt Ltd sold 7.72 million of its shares, representing around 2 per cent of the total share capital of InterGlobe Aviation, the parent of IndiGo.

Speaking at an event to mark 18 years of flying of IndiGo, an emotional Bhatia told the gathering the stake was sold to raise funds for business and general corporate purposes.

"It (stake sale) is no more complex than that... InterGlobe and I are here to stay," Bhatia said in the national capital.