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GoAir IPO: IndiGo, SpiceJet investors must tighten their seat belts amid turbulence

GoAir IPO: IndiGo, SpiceJet investors must tighten their seat belts amid turbulence
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

Capital Calls: Valuing GoAir s IPO will be a turbulent exercise

Go Airlines files DRHP for Rs 3,600 crore IPO

Go Airlines files DRHP for Rs 3,600 crore IPO The airline has recently re-branded itself as ‘Go First’ as it positions itself as an ultra low-cost carrier Wadias-owned-Go Airlines (India) Ltd has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise up to Rs 3,600 crore through a share float. GoAir proposes an initial public offer (IPO) through the 100 per cent book building process and the company will offer fresh equity shares aggregating up to Rs 3,600 crore. From the issue proceeds, GoAir proposes to use Rs 2,016 crore towards the repayment or scheduled repayment of all or a portion of certain outstanding borrowings, around Rs 279 crore towards replacement of letters of credit with cash deposit and Rs 255 crore as repayment of dues to IOC in part or full.

Market slumps in early trade on weak global cues

Key benchmark indices are trading weak in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 377.21 points or 0.76% at 49,125.20. The Nifty 50 index was down 122.05 points or 0.82% at 14,820.30. Weak global cues impacted sentiment. The S&P BSE Mid-Cap index was up 0.2%. The S&P BSE Small-Cap index was up 0.47%. The market breadth, indicating the overall health of the market, is positive. On the BSE, 1297 shares rose and 963 shares fell. A total of 127 shares were unchanged. Stocks in news: Oberoi Realty fell 0.74%. Oberoi Realty informed that the meeting of the board of directors of the company is scheduled on 14 May 2021 to consider and approve raising of funds by various modes.

InterGlobe Aviation share rises 2% after board approves raising Rs 3,000 crore

InterGlobe Aviation share rises 2% after board approves raising Rs 3,000 crore Share of InterGlobe Aviation climbed 2%  to Rs 1,711  against previous close of Rs 1,677 on BSE. BusinessToday.In | May 11, 2021 | Updated 13:35 IST InterGlobe Aviation share has climbed 75% in one year but fallen 2.58% since the beginning of this year. InterGlobe Aviation share gained 2% today after the firm s board approved raising up to Rs 3,000 crore through sale of shares to institutional investors. Share of InterGlobe Aviation climbed 2%  to Rs 1,711  against previous close of Rs 1,677 on BSE. 0.26 lakh shares of the firm changed hands amounting to turnover of Rs 4.39 crore. The stock has climbed 75% in one year but fallen 2.58% since the beginning of this year. Market cap of the firm rose to Rs 64,895 crore. The aviation stock hit 52-week high of Rs 1,822 on March 3, 2021 and 52-week low of Rs 850.30 on May 18, 2020.

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