IndiGo was founded in 2006 by Rahul Bhatia and Rakesh Gangwal IndiGo defied the odds to become India’s largest airline. Together they built  Indigo to today’s status. Rakesh Gangwal’s family once held around 37% stake in IndiGo’s parent firm InterGlobe Aviation. Later on they raised serious concerns about the governance of the company.   InterGlobe Aviation promoter Rakesh Gangwal and his family trust on Tuesday sold a 5.7 per cent stake in the airline for about Rs 11559 crore (USD 1.36 billion) through a block deal according to sources. Following the stake sale shares of InterGlobe Aviation slipped 2.20 per cent to trade at Rs 5301 apiece on the NSE in late afternoon trade. He was born in 1953 and studied Mechanical Engineering at IIT Kanpur and did MBA from the Wharton School University of Pennsylvania.  Rakesh Gangwal worked in United Airlines Air France and US Airways in different roles. This experience helped him in co-founding IndiGo. He was the chairman and CEO of Worldspan Technologies which was a travel technology company.  IndiGo’ used to operate a single aircraft the Airbus A320 which helped the airline to cut maintenance and training costs and they reduced the cost. Rakesh Gangwal who co-founded IndiGo with Rahul Bhatia in 2006 later had a dispute with him over governance.  In 2022 and 2023 the Rakesh Gangwal family started selling their stake for Rs 2005 crore Rs 2944 crore and over Rs 2800 crore in three major transactions.   According to media reports Rakesh Gangwal has a real-time net worth of around USD 6.3 billion as Forbes reported.  (With Inputs From PTI)