The Busy Brains
13 Sept 2023
Yatra Online, the travel booking platform, is set to launch its initial public offering (IPO) from September 15 to September 20. Retail investors will have a 5-day window to apply for the IPO.
Yatra Online, the travel booking platform, is set to launch its initial public offering (IPO) from September 15 to September 20. Retail investors will have a 5-day window to apply for the IPO.
The IPO is priced in the range of Rs 135-142 per equity share, with a minimum lot size of 105 equity shares. It includes both a fresh issuance of shares worth Rs 602 crore and an offer for sale (OFS) of up to 1,21,83,099 shares.
Promoter THCL Travel Holding Cyprus will sell 17,51,739 equity shares, while investor Pandara Trust – SCHEME I, represented by its trustee Vistra ITCL (India), plans to exit the company by selling its entire 4,31,360 shares through the OFS.
Yatra Online conducted a pre-IPO placement of Rs 62.01 crore via a rights issue in December 2022, allotting 2,627,697 shares to its promoter, THCL.
The funds raised will be used for investments, acquisitions, customer acquisition and retention, technology, organic growth initiatives, and general corporate purposes.
SBI Capital Markets, DAM Capital Advisors, and IIFL Securities are the book running lead managers of the issue, with Link Intime India serving as the registrar to the offer.
Yatra Online offers a comprehensive online platform for travelers, including accommodations, vacation packages, visa services, tours, and entertainment events. It positions itself as a leading corporate travel service provider in India, with over 2,105,600 hotel partnerships. The company competes with major players like Easy Trip Planners, MakeMyTrip, and Cleartrip. The Indian travel sector is expected to grow at an annual rate of 9-11%, with a shift towards online platforms, offering significant opportunities for players like Yatra Online.