Wadia Group-owned low-cost carrier GoAir’s initial public offering (IPO) is likely to happen by the end of FY17-18, while the airline is expected to finalise the global co-coordinators in the next three months.
Major domestic investment firms like SBI caps, Kotak Mahindra, Edelweiss and Motilal Oswal have pitched in for book-running lead managers for the issue, investment bankers privy to the development told FE. According to them, the timing of the IPO would depend mainly on the macro market conditions.
The company is looking at the stock performance of Indigo Airlines, whose shares underwent a major correction in the last few months due to concerns over delivery of aircraft from Airbus. Although the stock soared more than 80% in first three months of listing to hit a lifetime high of R1,395 in January 2016, it has slumped more than 60% from the peak. On Thursday, shares of IndiGo closed at R880.20 apiece on the BSE — 15% premium to the issue price of R765 apiece.
To Read the News in Full 26/08/16 Financial Express
Major domestic investment firms like SBI caps, Kotak Mahindra, Edelweiss and Motilal Oswal have pitched in for book-running lead managers for the issue, investment bankers privy to the development told FE. According to them, the timing of the IPO would depend mainly on the macro market conditions.
The company is looking at the stock performance of Indigo Airlines, whose shares underwent a major correction in the last few months due to concerns over delivery of aircraft from Airbus. Although the stock soared more than 80% in first three months of listing to hit a lifetime high of R1,395 in January 2016, it has slumped more than 60% from the peak. On Thursday, shares of IndiGo closed at R880.20 apiece on the BSE — 15% premium to the issue price of R765 apiece.
To Read the News in Full 26/08/16 Financial Express
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