GoAir files for IPO, plans to raise Rs 3,600 crore

Budget carrier GoAir has filed draft red herring prospectus (DRHP) with Sebi, ahead of its IPO. GoAir plans  to raise Rs 3,600 crore via fresh issue of shares. ICICI Securities, Citigroup and Morgan Stanley will manage the share sale.

The Wadia Group-backed airline is planning an initial public offering (IPO) to raise funds for its expansion.

Go Air is the third Indian carrier to be listed on the bourses after SpiceJet and IndiGo. The airline, which was launched in 2005, has a market share of more than 9.5 per cent in India currently.

Meanwhile, the airline has been rebranded as 'Go First' as it is betting big on its ultra-low-cost business model to tide over the impact of the COVID-19 pandemic.

GoAir rebranded as Go First ahead of IPO debut; promises attractive fares, luxury for passengers