Sebi keeps Go Airlines IPO in abeyance

New Delhi: The markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer (IPO) worth Rs 3,600 crore. Specific details about the reasons for Sebi keeping the issuance of observations in abeyance could not be immediately ascertained. There was no immediate comments from a Go Airlines spokesperson.

Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. "The issuance of observations kept in abeyance," according to Sebi's latest update on processing status of Go Airlines' draft offer documents.

The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.