InterGlobe Aviation Ltd.'s promoters will likely offload stake worth Rs 7,027.7 crore in a block deal, according to the term sheet accessed by NDTV Profit.The offer price for the issue has been set at Rs 5,808 per share, indicating a 3.1% discount to the previous closing price of Rs 6,050 apiece. Co-founder Rakesh Gangwal and the Chinkerpoo Family Trust will together offload up to 1.21 crore shares, representing 3.1% stake in the company that operates flights under the name IndiGo.Multinational investment banks Goldman Sachs, JPMorgan and Morgan Stanley are the managers of the deal.As of June, the promoters together owned 7.8% stake in the company. While Gangwal owned 4.73% stake, Chinkerpoo Family Trust, with Shobha Gangwal and JP Morgan Trust Company of Delaware as the trustee, held 3.08% stake in the company.Gangwal and the promoter entity offloaded up to a 3.4% stake in May. Rakesh Gangwal resigned from the board of directors of InterGlobe Aviation in February 2022 and had said he would gradually reduce his equity stake over the next five years.Since then, he has mopped up Rs 45,300 crore from stake sale. The residual stake — 4.78% — of Gangwal Group is valued at Rs 11,169 crore.Share Price The business update was shared after market hours. The stock settled 1.08% lower at Rs 6,050 apiece on the NSE, compared to a 1.02% decline in the benchmark Nifty 50. IndiGo's shares have risen 28.19% in the last 12 months and 32.84% year-to-date.Out of the 25 analysts tracking the company, 20 maintain a 'buy' rating, three recommend a 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month consensus price target of Rs 6,349.83 implies a potential upside of 5%.IndiGo, Max Healthcare Trade Mixed Following Nifty 50 Rejig. Read more on Markets by NDTV Profit.