Mumbai: GoAir, the budget airline of the Wadia Group, plans to launch its initial public offering soon, two people said, reviving a share-sale plan that’s been deferred several times since 2017.
The exercise of taking the airline public to raise about ₹3,000 crore has started, with the appointment of Citigroup, ICICI Securities and Morgan Stanley as the bankers, a top Wadia group official said.
“We are looking at raising long-term funds and reducing debt. We have been told that given the current market sentiment, it is the right time to raise resources,” the official said. The Wadia Group will likely dilute 30% of its stake in GoAir.
A GoAir spokesperson, responding to ET’s query, said the company does not comment on speculation.
