Go Airlines IPO
India’s popular budget airline Go Airlines is targeting Rs. 3,600 crores through its IPO. The face value of each share is Rs. 10. Go Airlines has filed papers with SEBI for its initial public offering.
According to the information, GO Airlines filed preliminary papers for the IPO in May, on which it got observation on 26 August. The above information was updated on August 27, after which this information has been made public on Monday.
If SEBI issues an observation, it means that the IPO has got the approval of SEBI. Earlier in June, SEBI had banned the draft paper of Go Airlines for the sale of shares.
What is the purpose of GoAirlines IPO?
According to the documents, the airline will use over Rs 2015.81 crore from the proceeds of the IPO to settle its debts and outstanding borrowings. 279.26 crore will be used for the replacement of letters of credit issued to certain aircraft lessees along with cash deposits for payment of lease rentals and maintenance of aircraft.
Apart from this, Go Airlines also plans to pay Rs 254.93 crore as arrears of fuel supplied to Indian Oil Corporation.
GoAir Company Financial Report
| ₹ in Crores | |||||
| Revenue | Expense | PAT |
|||
| 2019 | ₹5937 | ₹6846 | -₹387 | ||
| 2020 | ₹7258 | ₹9162 | -₹1271 | ||
| 2021 6M |
₹1438 | ₹2176 | -₹471 | ||
Company Promoters
- NUSLI NEVILLE WADIA
- JEHANGIR NUSLI WADIA
- NESS NUSLI WADIA
- GO INVESTMENTS & TRADING PRIVATE LIMITED
GoAir IPO Registrar
Link Intime India Private Limited
Who has the stake?
In Go Airlines, Wadia Group holds 73.33 percent. While the rest of the shareholders also include Bemanco Investments Limited.
The Global Coordinator and Book Running Lead Manager of the issue are ICICIC Securities, Citi, and Morgan Stanley.
