Indian LCC GoAir – currently rebranding to Go First – filed for its IPO and expects to raise up to US$500 million. According to the filing with the Securities and Exchange Board of India, it will use funds raised to pay off some of its debt as well as for general corporate purposes.
The airline also plans to raise more funds through a pre-IPO placement. It will become the third publically listed airline in India after IndiGo and SpiceJet. The company says after going public it will reposition itself as India’s first true ultra low-cost carrier.
