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GoAir IPO: Airline Company Seeks SEBI Approval For Rs 3,600-Crore IPO

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The Securities and Exchange Board of India (SEBI) has received GoAir's draught red herring prospectus (DRHP) for its initial public offering. The airline, which is owned by the Wadia group, plans to raise $3,600 crore through a new share offering.

 

Prior to a public offering, a draft red herring prospectus, also known as an offer document, is a preliminary registration document. ICICI Securities, Citigroup, and Morgan Stanley will manage the GoAir IPO.

GoAir IPO: Airline Company Seeks SEBI Approval For Rs 3,600-Crore IPO

GoAir, which was renamed GO FIRST on Thursday, is now one of the country's only two true low-cost carriers (LCCs), with AirAsia India as the other. Despite the fact that AirAsia India is nearly half the size of AirAsia, the company's future will be determined by recent management changes and the outcome of the Tatas' Air India bid.

GoAir is poised to be the only all-NEO carrier in Indian skies, operating the modern and cost-effective aircraft, with its 50+ aircraft and the older A320ceo on its way out. In the past, the airline had placed two orders for 72 aircraft each.

Wadia Group, which owns GoAir, launched the airline in 2005. Around 300 flights are operated on a daily basis. The retail portion of the IPO could be 35 percent, while the QIB portion is 50 percent and the NII portion is 15%.

 

The airline was the first to launch 16 routes, including flights to Port Blair from Mumbai, Bengaluru, and Hyderabad, as well as flights to Leh, Srinagar, and Jammu from Mumbai.

Read more about: go air ipo sebi
Story first published: Saturday, May 15, 2021, 14:19 [IST]
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