Mumbai: Budget carrier Go Airlines has filed its draft red herring prospectus (DRHP), ahead of its planned IPO. The IPO is managed by ICICI Securities, Citigroup and Morgan Stanley. According to the DRHP, the airline wants to raise Rs 3,600 crore via a fresh issue of shares.

IndiGo and SpiceJet are listed. Erstwhile Jet Airways and Kingfisher, which stopped flying in the last decade, were also listed.

Go First is raising funds at a time when Covid has severely impacted the financials of all airlines and trying to raise funds. India’s biggest airline (in terms of passengers flown) IndiGo last week decided to raise upto Rs 3,000 crore through “an issue of equity shares by way of a qualified institutions placement.” IndiGo for years has an offer from Qatar Airways chief Akbar Al Baker to invest in it whenever promoter Rahul Bhatia gives his nod for the same.

Vistara owners, Tata Group and Singapore Airlines, have pumped in Rs 465 crore into the full service carrier — the fourth tranche during the pandemic since last April. In all the promoters have together put in Rs 2,000 crore since last April.

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