Go Airlines files draft papers for Rs 3,600 crore-IPO
NEW DELHI, May 14: Go Airlines, which has rebranded itself as ‘Go First’, has filed preliminary papers for an initial share sale worth Rs 3,600 crore and the proceeds will be mainly used to repay dues amid the aviation industry facing strong headwinds due to the coronavirus pandemic.
After taking to the skies 15 years ago, the Wadia group-promoted budget carrier which has ambitious expansion plans is looking to mop up the amount through issuance of fresh equity shares. It also has plans to raise up to Rs 1,500 crore by way of a pre-IPO placement.