GoAir files DRHP for Rs 3,600-cr a day after rebranding itself
GoAir
GoAir, the low-cost airline has filed for the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to Rs 3,600 crore.
A DRHP or offer document is the preliminary registration document prepared by merchant bankers for prospective IPO-making companies in the case of book building issues.
Wadia Group-owned GoAir files for Rs 3,600 cr IPO with SEBI
The airline proposes an Initial Public Offer (IPO) of equity shares through the 100 percent book building process in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. The Company will offer fresh equity shares aggregating up to Rs 3,600 crore, according to a press release.
After being in the skies for 15 years, Wadia Group-owned GoAir has rebranded itself as Go First as the airline focuses on ultra-low-cost business model amid the aviation industry grappling with pandemic headwinds. The announcement on Thursday also comes amid reports that the airline was preparing for an initial share sale to raise funds for its ambitious expansion plans. The Go First as ULCC (ultra-low-cost carrier) would operate single aircraft type across its fleet, which currently has both Airbus A320 and A320Neos (new engine option) planes in operation, it said in a said. With a 7.8 market share per cent in March, the city-based airline breached the 10 per cent market share threshold for the first time in June 2014 and barring a few occasions it kept hovering in the sub-10 per cent range till the emergence of the pandemic last year.
GoAir Rebrands As Go First After 15 Years Of Flying Go First CEO Kaushik Khona said the airline has stayed resilient during the really tough times of the past 15 months.
Updated: May 14, 2021 12:01 am IST
The airline said that at the heart of the latest revamp is the full embrace of ULCC model
Mumbai:
After being in the skies for 15 years, Wadia Group-owned GoAir has rebranded itself as Go First as the airline focuses on ultra-low-cost business model amid the aviation industry grappling with pandemic headwinds.
The announcement on Thursday also comes amid reports that the airline was preparing for an initial share sale to raise funds for its ambitious expansion plans. The Go First as ULCC (ultra-low-cost carrier) would operate single aircraft type across its fleet, which currently has both Airbus A320 and A320Neos (new engine option) planes in operation, it said in a said.
GoAir rebrands as Go First after 15 years of flying
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GoAir rebrands as Go First after 15 years of flying
PTI / May 13, 2021, 20:43 IST
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MUMBAI: After being in the skies for 15 years, Wadia Group-owned GoAir has rebranded itself as Go First as the airline focuses on ultra-low-cost business model amid the aviation industry grappling with pandemic headwinds.
The announcement on Thursday also comes amid reports that the airline was preparing for an initial share sale to raise funds for its ambitious expansion plans. The Go First as ULCC (ultra-low-cost carrier) would operate single aircraft type across its fleet, which currently has both Airbus A320 and A320Neos (new engine option) planes in operation, it said in a said.