GoAir IPO gets SEBI’s nod to raise Rs 3,600 crore

The company was originally named Go First now aims to obtain ₹3,600 crores by selling its share. For pre- IPO aims to gain ₹1,500 crore.

Advertisement

GoAir IPO to surge up to ₹3,600 crore, before was kept on hold in June by the SEBI, has now have been officiated again by the board.

The company was originally named Go First now aims to obtain ₹3,600 crore by selling its share. For pre- IPO aims to gain ₹1,500 crore. After proper consideration of the SEBI, the official statements were given out on August 27 and was published on Monday. As per the reports, the SEBI did not officially give out any information as to why was the IPO was on hold it only claimed to undergo some documents of the merchant bankers.

For further investments companies plans to use ₹2,015.81 crore towards pre-payment or scheduled repayment

A total amount of ₹279.26 crore would be procured for substituting credits that were given out to certain aircraft lessors for the protection of rental payments and for maintaining proper care of the aircraft.