Go First gets SBI approval for IPO of Rs 3,600 crore

SEBI had previously kept IPO on hold in June 2021 due to some pending enquiry against the Wadia Group that owns 73.33% of the Company. Key points to note – The Company can now go ahead and file the final prospectus. Roadshows can happen to gauge investor interest. The Company aims to raise Rs 1,500 … Read more

Jeh Wadia exits all listed group companies

There is something cooking at the Wadia group. After stepping down as MD from the family controlled Go Airlines (rebranded as Go First) and Bombay Dyeing in March 2021, Jehangir Wadia (48, younger son of Nusli Wadia) has now stepped down from the boards of Britannia Industries and Bombay Burmah Trading Corporation (BBTC). There is … Read more

Bombay Burmah might be a better proxy play to Britannia currently

Current Market Caps (August 23, 2021) Bombay Burmah Trading Corporation (BBTC) – Rs 8,239 cr Britannia Industries – Rs 93,841 cr BBTC’s stake in Britannia is currently worth more than Rs 40,000 crore i.e., almost 5 times of it’s total current market cap. As such, it’s not unusual for holding companies to trade at a … Read more

Second Covid wave will delay air traffic recovery to end of FY23: Crisil

Ratings agency Crisil on Thursday said air traffic is expected to slump in FY22 and fully recover only by fourth quarter of next fiscal due to “the debilitating consequences” of the second Covid-19 wave in India. The forecast is based on data analysis for top four private airports — Delhi, Mumbai, Bengaluru and Hyderabad – … Read more