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Wadia braves rocky IPO market, mounting losses to list Go Airlines

Indian tycoon is focusing on long term as he floats low-cost carrier

A Go Air plane at Mumbai's domestic airport. Nusli Wadia, the chairman of the Wadia group of companies, is getting ready to sell shares in the carrier.   © Reuters

MUMBAI -- Known as the "Corporate Samurai'' of India Inc., Nusli Wadia, the chairman of the Wadia group of companies, is gearing up for a new battle.

The 77-year-old billionaire is planning to sell shares in Go Airlines (India), his low-cost carrier, just as the Indian stock market comes off record highs and after the nation's biggest initial public offering, by Paytm, bombed soon after its listing.

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