go air file ipo to raise 3600 crore: GoAir’s IPO; SEBI allows open sale of shares – go air files drhp with sebi for 3600 crore initial public offering

go air file ipo to raise 3600 crore: GoAir’s IPO; SEBI allows open sale of shares – go air files drhp with sebi for 3600 crore initial public offering

Highlights:

  • Go Airlines (India) Limited will raise a capital of Rs 3,600 crore
  • SEBI recently approved the IPO of Go Airlines
  • The company’s shares will be listed on BSE and NSE

Mumbai: Go Airlines (India), a leading airline, has announced a sale of shares to raise Rs 3,600 crore. Recently, the Securities and Exchange Board of India (SEBI) allowed GoAir to raise funds. The company’s equity shares are proposed to be listed on BSE Limited and National Stock Exchange Limited of India.
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GoAir will offer up to Rs 3,600 crore in fresh equity shares in the IPO. ICICI Securities Ltd., Citigroup Global Markets India Pvt. Ltd. and Morgan Stanley India Company Pvt.

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GoAir as an Ultra-Low-Cost Carrier (ULCC) emphasizes low unit cost (lower cost per unit) compared to other ULCC and low-cost-carriers (LCC) and maintains efficiency and reliability in operation, to provide a better customer experience. Can be done. It is one of the fastest growing airlines in India.

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Their share of the local market has increased from 8.8 per cent in 2018 to 10.8 per cent in 2020. In fiscal year 2020, GoAir used a lot of aircraft. As of January 31, 2021, GoAir’s cancellation rate was very low at 0.3 percent. During the same period, the rate of customer complaints to Goar was 0.3 per 10,000 customers. The average rate in the airspace is 1 out of 10,000 customers. As of January 31, 2020, GoAir has connected 28 domestic and 9 international destinations.

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GoAir plans to use the funds raised from the fresh capital raising for the following purposes.
1) Full or partial early repayment or planned repayment of certain loans taken by GoAir
2) Cash replacement of lease leases and credit cards issued to some aircraft lasers for future maintenance of aircraft.
3) Full or partial payment of fuel supplied to the company by Indian Oil Corporation Limited.
4) To fulfill general corporate objectives. As part of the expansion, GoAir has placed firm orders for the delivery of 144 Airbus A320 NEOs. Of these, the company has taken delivery of 46 Airbus A320 NEO aircraft and the remaining 98 Airbus A320 NEOs are awaiting delivery.

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