InterGlobe Aviation is the parent of IndiGo, the country's largest airline in terms of domestic market share.
Gupta had earlier been the CFO of Emami Agrotech Ltd and global finance director at Unilever Asia in Singapore.
The deal will bring Rs 8,500 crore to the company.
The company is also interested in taking up an airport expansion project in Indonesia.
Goldman Sachs owned 5.93 per cent whereas Bay Capital India held 7.22 per cent
Airlines, however, not too optimistic with the near 6% increase as bookings decline amid overall slowdown.
Blinc Technologies’ services include online ticketing solutions, cab-sharing app, loyalty points platform and digi-payment system
The airline operates 49 weekly flights to India, said a spokesperson for India.
About 32 arrivals and departures were cancelled between midnight and Thursday evening, according to data from real time flight-tracking application Flightradar.
More than 15 flights have been cancelled between today and tomorrow, according to data from Flightradar.
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