GoAir plans Rs2,500-cr IPO early next fiscal

Mumbai, March 25

Wadia group-owned GoAir plans to come out with a Rs 2,500 crore-initial share sale early next fiscal, according to sources.

The no-frills airline has been working on expansion plans and an Initial Public Offer (IPO) will help in raising funds.

In recent months, many companies have hit the capital market with their IPOs amid business activities slowly normalising after the pandemic blow.

The carrier, which started operations in 2005, has been contemplating about going public in the last couple of years. The airline, which has also been witnessing frequent churns in the top management, could not come out with the IPO on a few occasions earlier.

“GoAir is gearing up to raise funds to the tune of around Rs 2,500 crore from public investors and is likely to initiate this process with the filing of DRHP (Draft Red Herring Prospectus) around the second week of April,” one of the sources said. — PTI