Wadia Group to invest Rs 510 cr in Go First to meet working capital needs

Funds raised will meet working capital needs of IPO-bound airline

Wadia Group, through its Mauritius-based entity Baymanco Investments, has decided to infuse Rs 510 crore into its airline Go First to meet its “working capital requirements” and for “general corporate purposes”, Business Standard has learnt.

In 2022-23 (FY23), Go First has taken at least two loans worth Rs 203.5 crore under the government’s Emergency Credit Line Guarantee Scheme to deal with its cash crunch.

In October, the initial public offering (IPO)-bound Go First had said its net loss more than doubled to Rs 1,807.91 crore in 2021-22 due to US-based Pratt & Whitney’s (P&W’s) delay in supplying engines and multiple