Sebi keeps in ‘abeyance’ processing of Go Airlines’ IPO draft papers
NEW DELHI: Markets regulator Securities and Exchange Board of India (Sebi) has kept in abeyance the processing of Go Airlines’ draft papers for an initial public offer worth Rs 3,600 crore.
Go Airlines (India) Ltd, which has announced rebranding itself as ‘Go First’, filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues.
The “issuance of observations kept in abeyance”, according to Sebi’s latest update on the processing status of Go Airlines’ draft offer documents. The information was updated on June 25.
In Sebi parlance, the issuance of observations implies its go-ahead for the IPO. Under existing norms, the regulator is “obligated to keep issuance of observations in abeyance for a period of 30 days or 45 days or 90 days or more, as the case may be”.
