GoAir, the Jeh Wadia-spearheaded private airline, will tap the capital market only after two years while being open to equity dilution in the form of strategic investments during the interim."We will come out with our initial public offering (IPO) only after two years, sometime in FY09 at the earliest," Wadia told PTI today.The company, which achieved the highest load factor in the industry in the first three months of this year at 79%, will utilise the time to build its track-record and emerge in a position to provide value to shareholders, he said.On equity dilution in the near-term, Wadia said the company had received various proposals and was evaluating them. "We have yet to take a call on whether we even want to sell a stake to investors. Then we will decide to whom to sell and what price."There is no time-frame fixed for a decision on the matter, he said, adding equity dilution will depend entirely "upon the merit of the proposal."The company is presently categorising the investors into purely financial investors and strategic investors. The latter bring more than money to the table, he said, adding "we will zero in on prospective investors only after a thorough vetting of the proposals."
