GoAir (Mumbai International) is set to select Goldman Sachs, Bank of America Merrill Lynch, and Kotak Mahindra bank as underwiters for its planned INR10.22 billion (USD150 million) IPO, informed sources have told India's Economic Times.
Though exact details are still scant, it is believed the budget airline will offer a 24% stake up to investors through a placement on the Mumbai Stock Exchange.
A subsidiary of India's Wadia Group, GoAir is India's fifth largest airline by marketshare operating a fleet of nineteen A320-200s on flights to twenty-two destinations across India. It has an additional seventy-two A320neos on order from Airbus (AIB, Toulouse Blagnac) with deliveries scheduled to commence later this year.
