NEW DELHI: Wadia Group-promoted Go Airlines, which recently rebranded itself as ‘Go First’, has received market regulator Sebi’s green signal for an initial public offer (IPO) worth Rs 3,600 crore.The approval comes two months after market regulator Sebi has halted the carrier’s IPO process by up to 90 days reportedly due to on-going investigating irregularities with Wadia Group’s other holdings.
Go Airlines plans to garner up to Rs 3,600 crore through sale of shares, according to the Draft Red Herring Prospectus (DRHP). It also plans to raise up to Rs 1,500 crore by way of a pre-IPO placement.If successful in its effort to go public, GoAir would become the fourth domestic airline to be listed on the domestic bourses. At present, only IndiGo, SpiceJet and Jet Airways (which is eyeing a comeback) are listed on the exchanges. According to experts, the success of GoAir IPO will depend on how long it takes for the travel & tourism sector to recover from Covid-19 pandemic.