India's GoAir airline eyeing up to $150 mln IPO - sources

Bombay Dyeing And Mfg

28/10/2015 14:39

MUMBAI, Oct 28 (Reuters) - Go Airlines (India) Ltd (GoAir), 
the nation's fifth-biggest carrier by passengers travelled, is 
considering an initial public offering (IPO) and has begun talks 
to appoint bankers, three sources directly involved in the 
process said. 
    GoAir, part of the Wadia Group whose flagship companies 
include Bombay Dyeing  BDYN.NS  and biscuit maker Britannia 
Industries  BRIT.NS , could look to raise as much as $150 
million in the IPO, said the sources, who declined to be named. 
    Bankers made presentations to the company earlier this week, 
the people said, adding that it was early to say whether the 
company would sell new shares or existing shareholders will 
reduce their stakes in the planned public offering. 
    A spokesman for GoAir, which has a fleet of 19 Airbus 
 AIR.PA  A320 planes and had an 8.4 percent domestic market 
share last quarter, said the company would not comment on what 
he called market speculation. 
    GoAir is estimated by consultant CAPA to have made a profit 
of $14 million-$15 million in the year to March, which would 
make it the second most profitable Indian airline after market 
leader IndiGo. 
    IndiGo is selling shares in an IPO to raise as much as $464 
million.  urn:newsml:reuters.com:*:nL3N12S3MY 
 
 (Reporting by Devidutta Tripathy and Sumeet Chatterjee; editing 
by David Clarke) 
 ((devidutta.tripathy@thomsonreuters.com; +91 84518 40430; 
Reuters Messaging: 
devidutta.tripathy.thomsonreuters.com@reuters.net)) 
 
Keywords: GOAIR IPO/