Sebi keeps in abeyance processing of Go Airlines’ draft papers for IPO
Markets regulator Sebi has kept in abeyance the processing of Go Airlines’ draft papers for an initial public offer worth Rs 3,600 crore.
Go Airlines (India) Ltd, which has announced a plan to rebrand itself as ‘Go First’, filed preliminary papers for an initial share sale in May. The proceeds will be mainly used to repay dues.
The “issuance of observations (has been) kept in abeyance”, according to Sebi's latest update on processing status of Go Airlines’ draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
No-frills carrier SpiceJet plans to raise funds through issuance of equity shares or debt instruments and the proposal will be discussed at its board meeting on Wednesday.
In a regulatory filing late on Sunday, SpiceJet said its board of directors will consider “options for raising fresh capital through issue of equity shares/debt instrument on preferential/qualified institutions placement basis” at the scheduled meeting on June 30.
SpiceJet shares gained over 2 per cent to close at Rs 79.65 on the BSE on Monday.
Aditya Birla Sun Life
Sebi has kept proposed initial share-sale of Aditya Birla Sun Life AMC in “abeyance”, an update with the watchdog showed on Monday. However, the regulator did not clarify further.