GoAir has delayed plans for an Initial Public Offering (IPO) on the Mumbai Stock Exchange airline sources have informed India's Economic Times newspaper.
According to the report, the carrier is waiting to reach critical mass before going public. As such, no provisional timeframe for the offering has been given.
Last year, management appointed Goldman Sachs, Bank of America Merrill Lynch, and Kotak Mahindra bank as underwiters for its planned INR10.22 billion (USD150 million) IPO. At the time, reports indicated the LCC's parent firm, Wadia Group, would dispose of a 23% stake in the airline.
According to the report, the carrier is waiting to reach critical mass before going public. As such, no provisional timeframe for the offering has been given.
Last year, management appointed Goldman Sachs, Bank of America Merrill Lynch, and Kotak Mahindra bank as underwiters for its planned INR10.22 billion (USD150 million) IPO. At the time, reports indicated the LCC's parent firm, Wadia Group, would dispose of a 23% stake in the airline.