GoAir likely to appoint bankers soon for Rs 1,500-cr IPO

Mumbai: GoAir is likely to appoint bankers for its initial public offering this month and the Wadia Group-promoted budget airline is planning to raise about Rs 1,500 crore by end of this year, people familiar with the development told ET. The money would be used “for its expansion plans”, one of the persons said.

The airline, which has explored the idea of going public several times before, declined comment. “As a policy, GoAir does not comment on market speculation,” a company spokesperson said. In 2015, Go-Air was keen to launch its IPO once fuel-efficient Airbus A320neo planes start joining its fleet.

GoAir inducted its fiftieth aircraft in June this year, doubling its fleet size in less than two years. In November 2017 it had 25 planes in its fleet. GoAir is the fourth largest airline in India, according to data released by the Directorate General of Civil Aviation for May 2019.