Sebi keeps approval to Go Air's Rs 3,600-crore IPO in abeyance

Issuance of observations by Sebi implies approval for a public offering

The Securities and Exchange Board of India (Sebi) has kept the approval of Go Airlines (India)’s Rs 3,600-crore initial public offering (IPO) in abeyance.

While the airline denied receiving any communication from the stock market regulator, Sebi’s website shows that it had sought clarifications from ICICI Sec­urities, the lead banker for the pre-issue, on June 11. The issuance of observations on the airline’s draft red herring prospectus has been kept in abeyance, it said.

The Wadia-group owned airline was rebranded as Go First, positioning itself as an ultra-low-cost airline and filed papers last month to raise Rs 3,600 crore through a share