Go First (Go Airlines) IPO

Go First (Go Airlines) IPO     

IPO Details                                      Status: Upcoming  

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Go First (Go Airlines) Financial Information (In Rs. CR.)

About Go First (Go Airlines)   

Once Go Airlines has recovered from the tumultuous period of travel limitations brought on by the pandemic, it intends to relaunch its initial public offering (IPO). Previously known as Go Air, the ultra-low-cost airline owned by the Wadia Group has changed its name to Go First as part of its turnaround strategy. The airline has been dealing with persistently bad weather from FY19 to FY21. Higher fuel and maintenance costs caused the company to lose ₹923 crore even in the first half of FY22. But now that limitations on flying have been lifted, the airline hopes to reach new heights.  

Debt reduction will be the goal of the net revenues from Go Airlines' first public offering (IPO). Additionally, Go First Airlines will be able to pay back Indian Oil Corporation for fuel thanks to the IPO. Additionally, the funds collected from the Go Air IPO will be utilised to replace the cash deposits provided to aircraft lessors in place of letters of credit.      

Go First (Go Airlines) IPO Objectives  

1. Prepayment and repayment of every debt that the business has accrued.  

2. The need to reimburse Indian Oil Corporation for the fuel that GoAir has received.  

3. Covering the aircraft's maintenance and repair costs (Rs. 254.93 crore).  

4. However, as of November 2, 2021, the company owed vendors Rs. 1,346.7 million. From the proceeds of the issue, the company intends to use Rs. 96.3 crore to reimburse the vendors.    

Go First (Go Airlines) IPO: Strengths  

1. As of February 2021, their fleet of aircraft is among the youngest in India and the world, with an average age of 3.7 years.  

2. The country's market share increased from 8.8% in FY17–18 to 10.8% in FY19–20.  

3. In FY20, the number of passengers rose by 22.4% to 16.2 million, while the revenue from passengers also climbed by 24.8%.  

4. Over the coming years, the business is expected to receive its order of 99 A320 NEO aircraft.  

Go First (Go Airlines) IPO: Risks  

1. The number of departures in December 2020 dropped to 63% of the total in December 2019, which led to an increase in fixed expenditures and a rise in the pandemic-related debt.  

2. A total loss of Rs. 470.69 crores from April to December of 2020.  

3. They have an Airbus A320 in their complete fleet. The entire fleet will experience issues if the A320's engine has any faults, which would be disastrous for the business.  

4. Low profit margins were encountered.   

How To Apply for Go First (Go Airlines)    IPO Online?  

1. Click and Login to Your Angel One Account   : Open the Angel One app or website and log in with your credentials.  

2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.  

3. Select IPO: Find and select the Laxmi Dental IPO from the list of open IPOs.  

4. Enter the Lot Size: Specify the number of lots you want to bid for.  

5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.  

6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.  

Important Link          
 GO First (Go Airlines) IPO allotment status