Go Airlines (India) Limited IPO (GoAir IPO) Detail
Incorporated in the year 2004, GoAir is an ultra-low-cost carrier (ULCC) airline focused on providing affordable and accessible air travel to the people. The company’s target customers are young Indians, leisure customers, and MSME business travellers. The company is focused on maintaining a low-cost base and high utilization of its modern and fuel-efficient fleet.
As of February 2021, GoAir’s fleet inventory consisted of 56 aircraft. The company has an order book of 98 A320 NEO aircraft and by the end of fiscal 2024, GoAir is planning its fleet to solely be comprised of A320 NEO aircraft. The company’s passenger volume has increased at a CAGR of 22.4% from 10.8 Mn passengers in FY 2018 to 16.2 Mn passengers in FY 2020. As of January 2020, GoAir covered a network of 28 domestic and 9 international destinations.
The company is in the process of re-branding itself as “Go First” and has already started using the “Go First” trademark and brand name.
Competitive Strengths:
- Fuel-efficient, next-generation fleet
- Strong focus on operational efficiency
- Strategic network for slot-constrained airports
- Leisure travellers and MSEME businesses as target customers
- Track record of growth across key performance indicators
- Experienced Board and management team backed by the Wadia group
Company Promoters:
Nusli Neville Wadia, Jehangir Nusli Wadia, Ness Nusli Wadia and Go Investments & Trading Private Limited are the company promoters.
Company Financials:
Summary of financial Information (Restated Consolidated)ParticularsFor the year/period ended (₹ in Millions)31-Dec-2031-Mar-2031-Mar-1931-Mar-18Total Assets1,44,582.31,40,820.31,11,342.875,535.4Total Revenue14,384.472,580.159,367.546,011.5Profit After Tax- 4,706.9- 12,707.4- 3,866.0- 312.1
Objects of the Issue:
- Prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by the company;
- Replacement of letter of credits, which are issued to certain aircraft lessors towards securing lease rental payments and future maintenance of aircrafts, with cash deposit;
- Repayment of dues to Indian Oil Corporation Limited, in part or full, for fuel supplied to the company; and
- General corporate purposes
GoAir IPO Details
IPO Opening DateIPO Closing DateIssue TypeBook Built Issue IPOFace Value₹10 per equity share IPO Price[.] to [.] per equity shareMarket LotMin Order QuantityListing AtBSE, NSEIssue SizeFresh Issue[.] Eq Shares of ₹10
(aggregating up to ₹3,600.00 Cr)
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