GoAir plans IPO worth Rs 10 billion in FY17

GoAir is planning a Rs 10 billion IPO in 2016-17, after it has clarity on the delivery of its new Airbus aircraft. The airline had earlier planned an IPO in 2015-16. However, uncertainty over the delivery of 72 A320neo aircraft, scheduled to start from April 2016, caused a delay. According to reports, GoAir is in the process of appointing Goldman Sachs, Bank of America Merrill Lynch and Kotak Mahindra Bank for managing its IPO. The final agreement is yet to be signed, after which the bankers will work with the management to prepare the draft red herring prospectus for submission to the Securities and Exchange Board of India (SEBI). The valuation will depend on the delivery of the 72 aircraft.

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