GoAir likely to file draft papers for IPO in April 2021

GoAir, the India based private airliner is planning to raise around Rs. 4000 Crores by launching its public issue in April. As per some insights, the brand is all set to file its draft red herring prospectus for the same.

The company plans to raise these funds by offering 25 per cent of its equity shares to the investors. These funds would be used for working capital requirement and debt repayments. It is expected that the IPO may be a fresh issue of shares.

Under the scheme of one-time debt restructuring of Reserve Bank of India, GoAir had applied for debt restructuring. The brand had recently received a credit line of Rs. 800 Crores in February to continue flying.

As per the annual report of FY2020, GoAir, promoted by the Wadia group has outstanding debts worth Rs. 1780 Crores.

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