Akash Jha
Yatra Online Ltd, a startup in the travel technology industry, has announced that the subscription period for its initial public offering (IPO) will commence on September 15 at a price range of Rs 135-142 per share. On September 14th, the anchor book will be up, and on September 20th, the issue will be finalized.
On September 25, the basis of allotment will be disclosed, and on September 26, demat accounts will be credited with equity shares. The company is scheduled to debut on stock markets on September 29.
The company’s promoters and existing shareholders intend to raise Rs 602 crore through a fresh issue and an offer for sale of up to 12.18 million shares. At the upper end of the price range, the entire size of the issuance is Rs 775 crore, and the value of the company is Rs 2,230 crore.
Investor Pandara Trust – SCHEME I, through its trustee Vistra ITCL (India), intends to exit the firm by selling its full 4,31,360 shares through the OFS, while promoter THCL Travel Holding Cyprus would sell 1.75 million shares.
An estimated Rs 392 crore would be invested in customer acquisition and retention, technology, and other organic development activities, while Rs 150 crore will be used for strategic investments, acquisitions, and inorganic growth. The remaining balance will be used for operational expenses.
Yatra Online is owned by its promoters, THCL Travel Holding Cyprus, which owns 88.91 percent, and Asia Consolidated DMC Pte Ltd, which owns 9.68 percent; the remaining 0.95 percent and 0.08 percent are held by public shareholders, Network18 Media & Investments and Reliance Retail, both of which are subsidiaries of Reliance Industries.
According to the business’s FY23 financial statements, Yatra Online was the third largest online travel company in India among main OTA (online travel agency) companies in terms of gross booking revenue and operational revenue and the largest corporate travel services provider in India in terms of the number of corporate clients. As of March FY23, it has partnered with more hotels and other types of lodgings than any other major domestic OTA. This number is above 21,05,600.
Merchant bankers for the issuance include SBI Capital Markets, DAM Capital Advisors, and IIFL Securities, with Link Intime India serving as the issue’s registrar.
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Yatra Online IPO Details
Yatra Online IPO is a Book Built Issue. The IPO total issue size is Rs [.]. The Yatra Online IPO price is ₹135 to ₹142 per share. The IPO will list on BSE, NSE.
| IPO Date | September 15, 2023 to September 20, 2023 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price | ₹135 to ₹142 per share |
| Lot Size | 105 Shares |
| Total Issue Size | |
| Fresh Issue | [.] shares (aggregating up to ₹602.00 Cr) |
| Offer for Sale | 12,183,099 shares of ₹1 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 111,894,130 |
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Yatra Online IPO Timetable (Tentative)
Yatra Online IPO opens on September 15, 2023, and closes on September 20, 2023.
| IPO Open Date | Friday, September 15, 2023 |
| IPO Close Date | Wednesday, September 20, 2023 |
| Basis of Allotment | Monday, September 25, 2023 |
| Initiation of Refunds | Tuesday, September 26, 2023 |
| Credit of Shares to Demat | Wednesday, September 27, 2023 |
| Listing Date | Friday, September 29, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 20, 2023 |
Also read :- Zaggle Prepaid Ocean sets IPO price band at Rs 156-164; Subscription opens on Sept 14
