Tuesday, May 11, 2021

Wadia Group-owned GoAir likely to file for IPO this week

The Wadia Group-owned GoAir is expected to file Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO) with the market regulator Securities & Exchange Board of India (SEBI) this week, sources said.

GoAir is likely to raise Rs 3,600 crore through the IPO. Sources said that the entire IPO could be a fresh issue and there may not be any OFS.

The proceeds from the IPO are likely to be used towards debt repayment and towards growth capital.

GoAir flies to 39 destinations, including 10 international ones.

At present, there are only two Indian carriers listed on bourses, SpiceJet and IndiGo. In April 2019, Jet Airways was shut due to financial woes.

CNBC-TV18’s Yash Jain gets more details on the company’s plans.

11/05/21 CNBC TV18

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