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GoAir IPO: In risks, airline lists that brand is registered with company owned by promoter Jeh Wadia

Go Holdings, which owns the GoAir brand, is an entity in which Jeh Wadia, one of the promoters of the low-cost airline, holds 99% stake.

May 14, 2021 / 11:49 AM IST
(Image: Shutterstock)

(Image: Shutterstock)

GoAir, the low-cost airline owned by the Wadias and based in Mumbai, has finally filed for an initial public offering (IPO). This comes a day after it made an attempt to rebrand itself.

But wait!

The draft red herring prospectus (DRHP) lists the rebranding as one of the risks  One of the 66 risks listed by the company states that GoAir, which the company will continue to use until the transition is complete, is registered in the name of Go Holdings and not in the name of GoAir.

Go Holdings is an entity in which Jehangir Nusli Wadia, son of the promoter Nusli Wadia holds 99 percent stake.

The DRHP lists that GoAir intends to take necessary steps and pursue legal options to establish its ownership over all trademarks and 115 domain names.

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Until recently, Jehangir Wadia, known as Jeh Wadia, was the chairman and managing director of the airline.

On Thursday, GoAir launched page-one advertisements in newspapers across the country about GoAir becoming Go First. The logo on the tail changed in look and colour with a promise of cheaper fares, young fleet and safe operations.

ALSO READ: GoAir IPO: What the Wadia airline will use funds for, risks, competition, and other key details
Moneycontrol News
first published: May 14, 2021 11:49 am

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