GoAir plans IPO to raise around Rs 30 billion

GoAir, the budget airline of the Wadia Group, plans to launch its IPO to raise about Rs 30 billion (about $411 million). Citigroup, ICICI Securities and Morgan Stanley have been appointed as bankers for reviving the share sale plan that has been deferred several times since 2017. The airline is looking at raising long-term funds and reducing debt. The Wadia Group will likely dilute 30 per cent of its stake in GoAir.