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Go Airlines Planned IPO Put on Hold by India Market Regulator

A Go Airlines Ltd. aircraft at Indira Gandhi International Airport in New Delhi, India.

A Go Airlines Ltd. aircraft at Indira Gandhi International Airport in New Delhi, India.

Photographer: T. Narayan/Bloomberg
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Go Airlines India Ltd.’s plans to raise 36 billion rupees ($485 million) via an initial public offering have been put on hold by India’s market regulator, dealing another blow to the debt-laden carrier whose business has been decimated by the coronavirus pandemic.

Go Airlines’ share sale documents will be “kept in abeyance,” the Securities and Exchange Board of India said in a filing late Monday, without specifying the reason why.