Sebi keeps Go Airlines IPO in ‘abeyance’
The Securities and Exchange Board of India (Sebi) has kept in “abeyance” the processing of Go Airlines draft papers for an initial public offering (IPO) worth Rs 3,600 crore.
The company filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used by the company — which has announced rebranding itself as ‘’Go First’’ — to repay dues.
The “issuance of observations (has been) kept in abeyance”, according to Sebi’s latest update on processing status of Go Airlines’’ draft offer documents. The information was updated on June 25. The issuance of observations by Sebi implies its go-ahead for the IPO. Sebi usually gives its observations on IPO papers in 30 days.
