The way forward has been eased for the initial public offering (IPO) of the Wadia Group run Go Airlines which is expected to hit the market in the next few months. JehWadia, former managing director of the budget airline since its inception in 2004-2005, has handed over the use of the trademark "Go,” owned by his company Go Holdings, to the Wadia Group headed by his father Nusli. An official close to the group revealed to The Economic Times (ET) of April 22, 2022 that its "top brass is now strategizing on the IPO.”
The Rs 3,600 crore IPO, initially scheduled for December 8, 2021, was postponed on account of Covid-19 and unfavorable market conditions, noted ET. Now, with the two sides having signed an agreement on the use of these intellectual property rights, "a legal overhang against Go Airlines IPO will be removed,” a banker close to the Wadia Group informed ET. "Prior to this development, no written agreement was in place with Go Holdings governing the use of these intellectual properties,” the banker said.
This move has also signaled "reconciliation in one of India’s oldest business families,” according to ET. In its issue of January 13, the financial broadsheet had reported, "There was a hint of a family dispute that started mid last year when Jeh Wadia, son of Wadia Group chairman Nusli Wadia, resigned from boards of all group entities including Go Airlines and group flagship Britannia Industries. However, the group attributed the move to the decision of handing over operational controls to non-family professionals.” Sherene Vakil