MUMBAI, 12 SEPTEMBER, 2023 (GPN): Gurgaon Headquartered Travel Service Provider Yatra Online, which was incorporated in 2005, provides information, pricing, availability, and booking facilities for domestic and international customers.

Yatra Online intends to utilise the net proceeds towards funding of strategic investments, acquisitions, and inorganic growth; and investment in customer acquisition and retention.

The initial public offering (IPO) of Yatra Online will open for subscription on Friday, September 15. The company had fixed its price band at Rs 135-142 per equity share, with a lot size of 105 equity shares and its multiples thereof. The three-day bidding will conclude on Wednesday, September 20.

Incorporated in 2005, Yatra Online provides information, pricing, availability, and booking facilities for domestic and international customers. The company provides domestic and international air ticketing on Indian and international airlines, as well as bus ticketing, rail ticketing, cab bookings, and ancillary services.

The company is looking to raise a total of Rs 775 crore, which include a fresh issue worth Rs 602 crore and an offer-for-sale (OFS) of 1.22 crore equity shares by promoter THCL Travel Holdings Cyprus and selling shareholder Pandara Trust- Scheme I, aggregating to Rs 173 crore. The anchor book will open on Thursday, September 18.

The company, in consultation with the lead managers, has undertaken a pre-IPO placement of Rs 62 crore by way of rights issue and allotted over 26.27 lakh equity shares to its promoter THCL Travel Holdings Cyprus on December 10, 2022 at an issue price of Rs 236 per share.

The company intends to utilise the net proceeds from the issue towards the funding of strategic investments, acquisitions, and inorganic growth; investment in customer acquisition and retention, technology, and other organic growth initiatives; and general corporate purposes.

Yatra Online has over 94,000 hotels and homestays contracted in approximately 1,400 cities across India as well as more than two million hotels around the world. The company is India’s largest platform for domestic hotels. The company’s clientele includes both B2B and B2C customers.

For the financial year ended on March 31, Yatra Online reported a net profit of Rs 7.63 crore with a revenue of Rs 397 crore. The company had incurred a net loss of Rs 30.79 crore with a revenue of Rs 218.81 crore in the previous financial year ended in March 2022.

The company has reserved 75 per cent of the net offer for qualified institutional bidders (QIBs) while the quota for non-institutional investors (NIIs) stands at 15 per cent. The remaining 10 per cent of the offer will be reserved for retail investors.

SBI Capital Markets, DAM Capital Advisors and IIFL Securities are the book-running managers to the issue, while Link Intime India has been appointed as the registrar to the issue. Shares of the company are likely to be listed on both BSE and NSE.Ends

RHP Link : https://www.damcapital.in/files/pdf/638300307983107557_Yatra_Online_Limited_-_RHP..pdf