New Delhi: Carrier GoAir plans to come out with its initial share sale offer in the next financial year amid uncertainty over delivery of new Airbus aircraft, key for the no-frills carrier’s growth strategy.
The airline originally was looking to hit the capital market in the current financial year, which saw budget carrier IndiGo’s blockbuster initial public offering (IPO).
Sources said GoAir is still awaiting clarity on the delivery of 72 Airbus A320 Neo planes before taking a final decision on the IPO’s timing. Delivery of the aircraft was to start from April this year.
While the Wadia group airline has not officially made its IPO plan public, sources said GoAir would be looking to raise around Rs 1,000 crore.
At current exchange rate, this would translate into Rs 1,000 to 1,200 crore.
Apart from aircraft delivery schedule, GoAir would also be taking into account market conditions before deciding on the IPO timing, sources said.
07/02/16 PTI/Business Standard
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The airline originally was looking to hit the capital market in the current financial year, which saw budget carrier IndiGo’s blockbuster initial public offering (IPO).
Sources said GoAir is still awaiting clarity on the delivery of 72 Airbus A320 Neo planes before taking a final decision on the IPO’s timing. Delivery of the aircraft was to start from April this year.
While the Wadia group airline has not officially made its IPO plan public, sources said GoAir would be looking to raise around Rs 1,000 crore.
At current exchange rate, this would translate into Rs 1,000 to 1,200 crore.
Apart from aircraft delivery schedule, GoAir would also be taking into account market conditions before deciding on the IPO timing, sources said.
07/02/16 PTI/Business Standard
