GoAir IPO On Hold Amid Raging 3rd Wave?

GoAir IPO, the airline company has put its IPO on hold amid the rapid spike in covid cases. The Nusli Wadia Group has temporarily put on hold its ₹3,600 crores initial public offering (IPO) plan considering the third wave of Covid-19 and its impact on travel business, officials close to the group said.

The company is analyzing the pandemic situation led by the Omicron variant and is in discussions with its top officials about the IPO. GoAir had filed for the IPO in May last year and was to be listed last December. With a ₹3,600 crores initial public offer, the company was planning to raise another ₹1,500 crores through a pre-IPO placement. However, all fundraising plans related to the IPO have been put on hold for the time being amid the impact of Omicron all over India and internationally.

The virus is Omicron is contagious but it has not been seen impacting mortality or any such huge impact as of now health-wise. So there is hope that the third wave might peak soon in India in the coming days and thereafter end soon thereby not resulting in a long-term impact.

GoAir IPO – Is There A Rift In The Family?

There were reports of a family dispute mid-last year when Jeh Wadia, son of Wadia Group chairman Nusli Wadia, resigned from boards of all group entities including Go Airlines and group flagship Britannia Industries. However, the group later clarified the move of handing over operational controls to non-family professionals like the group has in Britannia Limited.

With Omicron expected to have a lesser impact than earlier ones and won’t last for the long term with a moderate risk rate, experts believe the GoAir IPO might soon be launched around the mid of the year if not earlier.

GOair IPO

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