GoAir is likely to file DRHP for its IPO next month to raise around Rs 4,000 crore, sources told CNBC-TV18.
According to the sources, the IPO is likely to be a fresh issue of shares.
"The company is likely to raise Rs 3,500-4,000 crore via issuance of over 25 percent equity. Funds raised will be used towards debt retirement and working capital," they added.
As of March 2020, the Wadia-group promoted company's debt stands at Rs 1,780 crore. Do note, as per the annual report for FY20, Bombay Burmah, Britannia, or Bombay Dyeing have no stake in the airline.
ICICI Securities, Citi, and Morgan Stanley are bankers to the IPO, added the sources.
18/03/21 CNBC TV18
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