The initial public offering of Go Airlines (India), operator of the Go First brand, will open for subscription on 8 December 2021. Founded as GoAir, Go First is trying to raise funds worth Rs. 3,600 crores via its public issue.
Are you interested in this forthcoming initial share sale? Make sure to be aware of all the necessary details related to it.
Check Out These Essential GoAir IPO Details
Keep the following IPO-related details in mind:
- Type of Issue: Book built issue
- Market Lot: Not yet announced
- Face Value: 10 per share
- IPO Price Band: Not yet announced
- Listing on: BSE and NSE
- Minimum Order Quantity: Not yet announced
The Mumbai-based company is looking to fulfil the following objectives by raising funds via its public issue:
- Ensuring the partial or full prepayment/scheduled repayment of the outstanding borrowings.
- Fulfilling general corporate purposes.
- Partially/fully settlingall dues to Indian Oil Corporation.
- To replace letters of credit that have been issued to specific lessors for securing the future maintenance of aircraft and payments related to lease rental with cash deposit.
Before you choose to apply for this IPO, it is essential that you take into account certain vital aspects regarding this company. If you wish to know about these factors, read on!
What Gives Go First a Competitive Edge?
Here are some noteworthy strengths of Go Airlines that ensure its competitive edge in the industry:
- This company puts a lot of emphasis on operational efficiency.
- GoAir’s portfolio comprises different variants of next-gen aeroplanes that are highly fuel-efficient.
- The target customers of this company are MSME organisations and individuals who travel for leisure.
- This company has a well-established position in the airline industry. It operates a fleet of more than 50 aircraft across 25+ destinations in India and over 8 destinations abroad.
- Go First has a proven track record in terms of growth across some vital performance indicators.
- The company has a highly-experienced and efficient management team.
- Go First has a strategic network for airports that are slot-constrained.
A Quick Look at Some Crucial Financial Highlights
Take a look at this table to get a picture of this company’s financial position:
|Financial Year||Overall Assets (in million)||Total Revenue (in million)||Overall Expenses (in million)||Net Profit after Tax (in million)|
|2017-2018||Rs. 75,535.4||Rs. 46,011.5||Rs. 47,043.6||(Rs. 312.1)|
|2018-2019||Rs. 1,11,342.8||Rs. 59,367.5||Rs. 68,459.4||(Rs. 3,866)|
|2019-2020||Rs. 1,40,820.3||Rs. 72,580.1||Rs. 91,617.3||(Rs. 12,707.4)|
The financials of the company might not look that enticing to investors. This is because the pandemic-related restrictions imposed all over the world severely impacted the operations of this airline company. That said, considering GoAir’s competitive strengths, the company appears to be well-placed in the industry. Accordingly, investors who have interest in the airline space may consider subscribing to its upcoming IPO.
However, they must make sure to consider some essential aspects, including the strengths, opportunities and threats of the company, before placing the IPO order.
Once you make a decision, log in to your online account and apply for the public issue. However, if you do not have a Demat account, open one today with Angel One.
Frequently Asked Questions
- Which entity has been appointed as the registrar for the public issue of Go Airlines?
Link Intime India Private Ltd has been appointed as the registrar for GoAir’s initial share sale.
- Which entities are the lead managers for Go Airlines IPO?
The merchant bankers for Go First IPO are Morgan Stanley India Company Pvt Ltd, ICICI Securities Limited and Citigroup Global Markets India Private Limited.
- When will shares of Go Airlines get listed on stock exchanges?
The listing date of the GoAir IPO has not been announced yet.
- Who are the promoters of Go Airlines?
The promoters of Go Airlines are Ness Nusli Wadia, Nusli Neville Wadia, Jehangir Nusli Wadia and Go Investments & Trading Private Limited.