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Monday, February 08, 2016
IPO to be launched
GoAir is planning to come with its initial share sale next fiscal amid persisting uncertainty over the scheduled delivery of new Airbus aircraft which is key for the no-frills carrier's ambitious growth strategy. The airline originally was looking to hit the capital market in the current financial year, which has also seen budget carrier IndiGo's blockbuster IPO
Sources reveal that GoAir is waiting for clarity on the delivery of 72 Airbus A320 neo planes before it takes the final decision on the timing of the IPO. The delivery of the aircraft was to start from April this year. While the Wadia group airline has not officially declared its IPO plan public, sources said GoAir would be looking to raise around $150-175 million. At current exchange rate, this would translate into Rs 1,000 to 1,200 crore.