New Delhi, Aug. 28 -- In one of the most remarkable exits by a company founder, Rakesh Gangwal has sold the majority of his stake in IndiGo, turning a 2006 investment of Rs.14.7 crore into a monumental Rs.45,000 crore or $5 billion in less than 20 years. The sale, which follows his departure from the airline, highlights a chapter that saw his aviation acumen help transform IndiGo into India's largest airline.

Gangwal's IndiGo windfall comfortably beats that of Flipkart's Bansals, who made over $1 billion each in selling shares to Walmart in 2018, as it acquired the Bengaluru-based company for $16 billion. This is among the most successful stake sales by the founder of a homegrown firm since the start of the century, according to two inve...