Indian low cost carrier GoAir may raise about $150 million (Rs664 crore) through a public offer to fund its operational expenses, according to reports now in circulation.
According to an agency report, the airline may have taken on the services of the Bank of America Merrill Lynch and Edelweiss Capital to manage the offering.
Such an offering may be made shortly, the same report suggests. GoAir has declined comment.
Textile majors, the Wadia group are the promoters of GoAir through Go Airlines (India) Pvt Ltd. The Wadia Group runs the iconic textile firm Bombay Dyeing and Manufacturing Company Ltd.