Travel tech firm Yatra Online IPO to open on September 15
The IPO comprises fresh issuance of equity shares worth Rs 602 crore and an Offer for Sale of up to 12,183,099 shares.
Online travel company Yatra Online on Tuesday fixed the price band for its Initial Public Offering (IPO) at Rs 135-142 per equity share. The IPO which will open for subscription on September 15, will close on September 20.
Investors can bid for a minimum of 105 equity shares and in multiples of 105 equity shares thereafter, the company said.
The IPO comprises fresh issuance of equity shares worth Rs 602 crore and an Offer for Sale (OFS) of up to 12,183,099 shares.
At the upper price band of the issue, the IPO will fetch up to Rs 775 crore.
The online travel company had undertaken a pre-IPO placement of Rs 62.01 crore by way of rights issue and allotted 2,627,697 equity shares of face value Rs 1 each to its promoter, THCL Travel Holding Cyprus on December 10, 2022 at an issue price of Rs 236 per share.
"Proceeds from the fresh issue will be utilised to the tune of Rs 150 crore for strategic investments, acquisitions, and inorganic growth. Another significant portion, Rs 392 crore for investment in customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes,"Online CEO Dhruv Shringi told reporters.
SBI Capital Markets, DAM Capital Advisors and IIFL Securities are the book-running lead managers and Link Intime India is the Registrar to the Offer.
The equity shares are proposed to be listed on BSE and NSE.
The company's consolidated revenue from operations increased to Rs 380 crore in FY23 from Rs 198 crore in the previous fiscal, primarily due to recovery in both its consumer and corporate travel business due to the diminishing impact of COVID-19.
In FY23, the company generated a profit of Rs 7.6 crore.
Edited by Kanishk Singh