Another said the airline can now move to the next step of filing the final red herring prospectus incorporating Sebi s comments. It can also start road shows to garner investor interest. He added however that it wasn t clear if it would find the market conducive now for an IPO.
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GoAir explores legal options against former MD Jeh Wadia over trademark, domain names: Report
GoAir
GoAir, which has rebranded itself as âGo Firstâ, and filed preliminary papers for an initial share sale worth Rs 3,600 crore is now exploring legal actions against Jehangir Nusli Wadia (known as Jeh Wadia), one of its promoters and former managing director. This is being done to establish its ownership over all trademarks and domain names used by the company, said news reports.
In March, Wadia group-owned no-frills airline GoAir said that its managing director Jeh Wadia had stepped down from the position. The airline, however, said that Wadia will continue as a promoter.
Go Air files for Rs 3600-crore IPO
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Go Air files for Rs 3600-crore IPO
Saurabh Sinha / TNN / May 14, 2021, 12:41 IST
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NEW DELHI: Wadia Group Go Air, which has been as rebranded Go First, will be the third currently operational Indian airline to go public. The low-cost carrier has filed for an IPO to raise Rs 3,600 crore. IndiGo and SpiceJet are listed. Erstwhile Jet Airways and Kingfisher, which stopped flying in the last decade, were also listed.
Go First is raising funds at a time when Covid has severely impacted the financials of all airlines and trying to raise funds. India’s biggest airline (in terms of passengers flown) IndiGo last week decided to raise upto Rs 3,000 crore through “an issue of equity shares by way of a qualified institutions placement.” IndiGo for years has an offer from Qatar Airways chief Akbar Al Baker to invest in it whenever promoter Rahul Bhatia gives his nod for the same.
In April 2021, Wadia made an application to the National Internet Exchange of India, to transfer 115 domain names from Net4India Ltd to Network Solutions