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-BofA Merrill Lynch, Edelweiss Capital to manage Indian GoAir's IPO.

BANKING AND CREDIT NEWS-May 3, 2011--BofA Merrill Lynch, Edelweiss Capital to manage Indian GoAir's IPO(C)2011 M2 COMMUNICATIONS

3 May 2011 - Indian low-cost carrier GoAir has mandated Bank of America Merrill Lynch and Edelweiss Capital (BOM:EDELWEISS) to manage its planned initial public offering (IPO), Reuters reports today, citing two sources.

The airline projects to collect around USD150m (EUR101.2m) via the issue, with funds from the transaction to be used for financing its operational costs.

GoAir will submit an application for the IPO in the near future, the sources added.

The airline's CEO, Kaushik Khona, would not comment on the report.

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Publication:M2 Banking & Credit News (BCN)
Date:May 3, 2011
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