( MENAFN - AsiaNet News) Shares of Interglobe Aviation, the parent firm of Indigo, dropped more than 5% on Thursday after a large block deal by the Rakesh Gangwal family. As many as 91 lakh shares, or 2.35% of the airline's equity, changed hands at market open at an average price of ₹5,838 per share, valuing the transaction at ₹5,135.5 crore, CNBC-TV18 reported. The deal, initially planned for a 3.1% stake worth around ₹7,027 crore, was downsized, with one large trade of 2.2% equity executed. Following the sale, Gangwal and the Chinkerpoo Family Trust now hold a 4.7% stake in Interglobe Aviation, while Rahul Bhatia and Interglobe Enterprises continue to hold a 35.73% stake. Technical View SEBI-registered analyst Prabhat Mittal said Indigo has been performing very well since January 2025, consistently making higher tops and bottoms on the chart, which he described as a positive sign for the stock.