Will Indigo EGM settle spat between co-founders for good?

 The spat between IndiGo's Rahul Bhatia and Rakesh Gangwal may be coming to an end. The airline has called an EGM to amend clauses in Articles of Association which has been a thorn in their relations

With Tatas taking over Air India, Indigo had no option but to put an end to the internal bickering. Soon after the decision to call the AGM was announced, the shares of India's largest domestic airline jumped 4.5% on Tuesday. Investors anticipated an end to the two-year-long public tussle between its two co-founders, India-based Rahul Bhatia and the US-based Rakesh Gangwal

With a domestic market share of 53.5% in October, IndiGo is by far the biggest airline in the country. Air India, which at 11.8% is the distant runner-up, is expected to go through an overhaul early next year as the Tata group takes over the control.

Indigo, meanwhile, is collectively owned by the two promoters. They own a 74.44% stake in it, with Bhatia owning 37.83% and Gangwal 36.61%.

Their dispute has so far not affected the operational performance of the airline, which has only gone from strength to strength.

Its market share gains after the pandemic have proved it.

Now, the two promoters have called an Extraordinary General Meeting on December 30, after an arbitration order of the London Court of International Arbitration, which ruled in favour of Gangwal.