The airline is in a desperate situation if it is not even able to pay for its fuel. Its numbers don’t inspire confidence
In the draft papers filed with market regulator SEBI, GoAir detailed how its performance compares with rival Indian carriers.
GoAir is rebranding itself and aims for strong growth. The exercise involves expenditure but its planned IPO can help the low-cost carrier fly high after setbacks the aviation industry faced because of the pandemic
Many consumer goods majors had struggled during the initial days of the lockdown due to supply chain issues an shortage of staff.
Britannia shares rose by 48 percent since the nationwide coronavirus-induced lockdown was imposed, which is higher than all other FMCG companies.
Bombay Dyeing shares plunged 9.78 percent to close at Rs 112.60 on the BSE. During the day, it tumbled 17.42 percent to Rs 103.05.
Ness Wadia was found to be in possession of 25 grams of cannabis resin at the New Chitose Airport in the Japanese island of Hokkaido in March
With this acquisition, NPL's total stake will increase to 70.5 per cent from the current 45.4 per cent. "The Agreement dated March 28, 2017 was executed by Nusli N Wadia and Nowrosjee Wadia and Songs Ltd to acquire 14,42,500 equity shares from Solvay SA," NPL said in a BSE filing today.
Nusli Wadia's 137-year-old flagship Bombay Dyeing and Manufacturing Company has drawn up a major strategy to revive its textile retail business and is looking for a turnaround in 2017-18.
CNBC-TV18 learnt from sources that GoAir, which is owned by the Wadia Group, is likely to raise Rs 1,000-1,200 crore through IPO and may dilute around 24 percent stake.
Tata Communications will provide full suite of media services to reach 40 million Irish and Irish American residents in North America, the company said in a statement.
GoAir, part of the Wadia Group whose flagship companies include Bombay Dyeing and biscuit maker Britannia Industries, could look to raise as much as USD 150 million in the IPO, said the sources, who declined to be named.
GoAir would be the second domestic carrier to come out with an IPO after rival IndiGo, which is all set for little over Rs 3,200-crore initial share sale on October 27 amid the season of companies queueing up to tap the capital market.
The special offer is available on flights across the GoAir network for a travel period between January 1 and March 31, the airline said.
Britannia is facing the challenge of rising attrition after the recent change of guard, reports CNBC-TV18's Farah Bookwala.
With business in his blood, Jeh Wadia from the illustrious Wadia Group, has dabbled in a multitude of businesses like music and IT besides learning the ropes in the family business.
Budget airline GoAir is planning to raise about USD 150 million through a public offer to fund its operational expenses, two sources with direct knowledge of the matter told Reuters.