Business Standard

IPO delayed due to Ukraine-Russia war and Omicron wave: Go First

The firm's DRHP expired in August this year and it will need to refile its papers with Sebi to reinitiate the IPO process

Go First

Go First had in May 2021 filed the draft red herring prospectus (DRHP), wherein it said it wants to raise Rs 3,600 crore via fresh issue of shares

Deepak Patel New Delhi
Go First said its initial public offering (IPO) to raise Rs 3,600 crore was delayed due to the Omicron wave’s “severe” impact on international travel and the “unexpected” Russia-Ukraine war, according to its regulatory filings last week.

“Based on the market prospects, the company would reinitiate the IPO process in consultation with the Book Running Lead Managers,” the airline — owned by the Wadia Group — stated.

Go First’s filings were done a few days before Friday’s Sebi order that barred its promoters from accessing the capital markets. Business Standard has reviewed the filings.

The Securities and Exchange Board of India (Sebi) —

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First Published: Oct 24 2022 | 6:15 AM IST

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