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Indigo co-founder Rakesh Gangwal will buy a major stake in SpiceJet, shares will become rocket.

Rakesh Gangwal, cofounder and promoter of IndiGo, can buy stake in SpiceJet. This claim has been made in a report by ETNow. According to this, Gangwal is preparing to buy a major stake in SpiceJet and talks in this regard are in the advanced stage. Gangwal holds 13.23 percent stake in IndiGo operator InterGlobe Aviation and his wife Shobha Gangwal holds 2.99 percent stake. Also, his family trust has 13.5 percent stake in the company.SpiceJet is facing various financial challenges including cash crunch and is looking for funds. Aviation regulator DGCA had put the company under surveillance this year.

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