As the feud between the two promoters of IndiGo takes shape of a battle, one can't help but wonder what if they part ways? How much would Rahul Bhatia and his affiliates have to shell out to buy out the 36.68 percent stake of Rakesh Gangwal and his associates?

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A back-of-the-envelope calculation by CNBC-TV18 shows that the current market capitalisation or size of InterGlobe Aviation Ltd is Rs 53,000 crore. With this market cap, the shareholding of Rakesh Gangwal and his associates will amount to Rs 19,500-Rs 20,000 crore.

Hence, if the situation worsens and the two promoters do decide to part ways then Bhatia camp will have to shell out at least Rs 19,500-Rs 20,000 crore to buyout the stake of Gangwal and his associates.

As of March 31, the two promoters hold 74.93 percent share in the company while the rest 25.07 percent is held by public. Rahul Bhatia and his associates hold the highest stake in the company at 38.26 percent. In the public shareholding, 5.03 percent is held by mutual funds, and the rest 20.12 percent is owned by institutions, 14.98 percent of which are foreign institutional investors.

The feud between the two promoters of the teenage airline came out in the public on July 9 when InterGlobe Aviation, which runs IndiGo, disclosed to the stock exchanges that Gangwal has written a letter to Sebi seeking regulatory intervention regarding his disagreements with Bhatia.

In another exchange filing, both parties shared their sides of story via various letters of communication with the company board. While Gangwal has alleged that standards of corporate governance are collapsing and are similar to that of a "paan ki dukaan" at the airline, Bhatia has called this a theatrical act and has called the allegations as misleading and frivolous.

The matter has made the investors nervous and the stock fell sharply today. At 1:03 pm, shares of InterGlobe Aviation traded 11.4 percent down at Rs 1,386.55 per share.