Go Airlines India Ltd has filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi) to raise ₹3,600 crore via an initial public offering (IPO).
The company said it is in consultation with its lead managers to issue shares through a preferential issue or any other method to raise up to ₹1,500 crore.
ICICI Securities, Citigroup Global Markets India and Morgan Stanley are the lead managers on the issue.
Proceeds from the issue will be used to repay all, or a portion of, certain outstanding borrowings up to ₹2,015.81 crore. ₹279.26 crore will be used for replacement of letters of credit which are issued to certain aircraft lessors towards securing lease rental payments and future maintenance of aircraft with cash deposit.
