Indian budget carrier GoAir files for ₹3,600 crore-IPO
Indian budget carrier Go Airlines Ltd filed for an initial public offering of up to 36 billion rupees ($491 million), a move that comes as airlines scramble to bolster their finances to tide over disruptions caused by a raging pandemic.
A second wave of Covid-19 infections in India is taking a heavy toll on domestic airlines, which were barely limping back to normalcy after a nation-wide lockdown hampered their operations for months in 2020.
The company, which is in the process of rebranding itself as “Go First”, plans to use the money raised from the IPO to repay loans and clear dues, it said in a filing.
