Go Airlines to launch its IPO in August 2021

Go Airlines is likely to launch its initial public offering (IPO) in August 2021 and expects SEBI to clear the proposal by July 31, 2021. The company has filed its draft red herring prospectus with the capital markets regulator with the aim of raising Rs 36 billion from the public market. It intends to use almost 55 per cent of the IPO proceeds to pay off debt and Rs 2.4 billion in credit owed to the Indian Oil Corporation. Further, the airline is planning to increase its ancillary revenues from 7 per cent to 20 per cent and add 10 Airbus Neo aircraft to its fleet. By 2024, the airline company expects to have an entire fleet of Airbus Neo aircrafts.