IndiGo denies reports of ED summons; m-cap falls Rs 3,536 crore

New Delhi: IndiGo Airlines on Wednesday denied reports that Enforcement Directorate summoned its top management for Foreign Exchange Management Act (FEMA) violation.

“We hereby clarify that we have not received any such summons,” the company said.

Meanwhile Shares of InterGlobe Aviation, the operator of IndiGo airlines slumped 7.49 percent, eroding Rs 3,536 crore from the company's market valuation, on ED summon reports.

Chart Courtesy: BSE

Shares of the company tanked 7.49 percent to settle at Rs 1,136.15 on BSE. During the day, it plunged 8.39 percent to Rs 1,125. At NSE, shares of the company dived 7.50 percent to close at Rs 1,136.45.

Led by the sharp fall in the stock, the company's market valuation plunged by Rs 3,535.62 crore to Rs 43,674.38 crore.

In terms of equity volume, 1.27 lakh shares of the company were traded on BSE and over 27 lakh shares changed hands at NSE during the day.

With PTI Inputs