The much-awaited IPO of Go First (formerly GoAir) on December 8 did not materialise, putting the Nusli Wadia-backed company’s plans to raise Rs 3,600 crore from the bourses in abeyance. Much of the money was to be used for paying off debt. But perhaps the company played safe, considering the subdued investor response to Paytm and Star Health Insurance IPOs.
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