Bombay Burmah Trading Corp’s Go First exposure falls to Rs 65 crore

Some of the listed Wadia Group entities reduced their exposure to the now-bankrupt Go First airline (founded as GoAir) in 2022-23, with Bombay Burmah Trading Corporation’s (Bombay Burmah’s) exposure falling to Rs 65 crore.

According to the annual report of 2021-22, Bombay Burmah had an exposure of Rs 315 crore to the airline by way of inter-corporate deposits (ICDs).

Bombay Burmah also holds a 32 per cent stake in the airline directly; the rest is owned by Wadia’s private entities.

Shares of Bombay Burmah, with a market valuation of Rs 6,684 crore, closed at Rs 958 per share on Tuesday.