Wadia Group-controlled Go Airlines (India) Ltd on Friday began the process of becoming the fourth listed carrier in India as it filed a draft prospectus with the market regulator for an initial share sale to raise up to ₹3,600 crore.
GoAir, which has rebranded itself as GoFirst, aims to raise funds through the sale of new shares, according to its draft red herring prospectus (DRHP) filed with the Securities Exchange Board of India, a copy of which has been reviewed by Mint.
In addition, the budget airline plans to raise up to ₹1,500 crore through a preferential placement of shares prior to the initial public offering (IPO), according to the prospectus.
ICICI Securities, Citi and Morgan Stanley are managing the share sale.
