Deal Closed | Go Airlines (India) Limited | Proposed Initial Public Offering

The details of the deal are as follows:

Sector:  Aviation 

Announcement Date: 13-May-2021 

Name of Client: Go Airlines (India) Limited 

Name of Issuer: Go Airlines (India) Limited | India 

Go First is an ultra-low-cost carrier, focused on maintaining low unit costs and delivering compelling value to customers that drives unit revenues. It is one of the fastest-growing airlines in India, with an increase in domestic market share from 8.8% in Fiscal 2018 to 10.8% in Fiscal 2020. Go First is owned and controlled by the Wadia Group 

Deal Description:  Acted as Indian Legal Counsel to Go Airlines (India) Limited in relation to its proposed initial public offering of equity shares aggregating to INR 36,000 million. 

Total Consideration: USD 496.55 Million 

Team Members: Abhimanyu Bhattacharya (Partner), Aditya Cheriyan (Partner), Oishik Bagchi (Principal Associate), Devarshi Mukhopadhyay (Senior Associate), Adrika Dhawan (Associate), Shalina Abhale (Associate) 

Role of Firm: Legal Counsel to the Company as to Indian law 

Other legal advisors: Legal Counsel to the GCBRLMs as to Indian law: AZB & Partners 

International Legal Counsel to the GCBRLMs: Clifford Chance Pte. Ltd. 

Unique Feature of Transaction 

• First successful DRHP filing of an Indian airline company since 2015 

• The company is one of the fastest-growing airlines in India