After Indigo takes off, now GoAir planning US$150mn IPO

GoAir, part of the Wadia Group and India's fifth-largest carrier by passengers, could be looking to raise as much as US$150 million through the IPO, the newspaper reports.

Go Airlines India Ltd. (GoAir) is reportedly considering an initial public offering (IPO) and has begun talks to appoint merchant bankers, reports a business daily.

GoAir, part of the Wadia Group and India's fifth-largest carrier by passengers, could be looking to raise as much as US$150 million through the IPO, the newspaper reports.

Some investment bankers have already made presentations to the company earlier this week, according to the daily.

A spokesman for GoAir has refused to comment on the issue.

GoAir has a fleet of 19 Airbus A320 planes and had an 8.4 per cent domestic market share in the last quarter.

Also, GoAir is estimated to have made a profit of US$14-15 million in the year ended March 2015, the paper reports.