GoAir, the airline of the Dia Group, is now going to bring its Initial Public Offering (IPO).
GoAir IPO: GoAir, the airline of Wadia Group, is now going to bring its Initial Public Offering (IPO). The company will bring an IPO of Rs 3,600 crore.
New Delhi. If you are thinking of earning from IPO, then you are going to get a great opportunity. GoAir, the airline of Wadia Group, is now going to bring its Initial Public Offering (IPO). The company will bring an IPO of Rs 3,600 crore. After facing many difficulties, the airline company has filed documents with SEBI for listing in the stock market. Even before this, GoAir had planned to launch an IPO, but it could not be completed. The company is trying to get the listing done at a time when the challenges for the aviation industry are increasing. The airline has also taken the step of rebranding through its Go First. Is making a comeback with this name The company has changed its brand name to ‘Go First’. This airline has been operating for the past 15 years. The proceeds from the IPO will be used initially for the payment of the loan. The company has said that the proceeds from the IPO will be used in the payment of its outstanding debt. In addition, it can also be used for lease rent payment and future maintenance of aircraft. Also read- Put money in this policy of LIC, there will be no tension of monthly expenses! You will get 9 thousand rupees every monthKnow what is the company’s plan? GoAir plans to raise Rs 3,600 crore by issuing new shares. Of this, Rs 2,015 crore or 56 percent is planned to be used to pay the debt on the company prematurely or on a fixed period. Apart from this, it will also spend some of its outstanding dues. This includes 254 crores rupees of Indian Oil Corporation. After this, the airline will have a little over Rs 1,000 crore for expansion and other needs of the other company. Also read- This 33-year-old man became a millionaire in 4 months by investing money in Dogecoin! Learn Success Trick
The company has a debt of Rs 2,900 crore Let us know that the total debt on the company is more than Rs 2,900 crore. Repaying this will help reduce the financial burden in the coming years. Its finance cost was more than Rs 850 crore last year and it has increased in the last few years. GoAir lags behind Indigo and SpiceJet in terms of ancillary revenue, but its operating cost is lower than rival airlines and maintenance costs are comparable to IndiGo. GoAir’s market share has been stable for many years and has not exceeded 10%.