Yatra Online IPO subscribed 30%

Published on Sep 18, 2023 17:19

The initial public offer (IPO) of Yatra Online received bids for 94,27,005 shares as against 3,09,42,356 shares on offer, according to stock exchange data at 17:00 IST on Monday (18 September 2023). The issue was subscribed 0.30 times.

The issue opened for bidding on Friday (15 September 2023) and it will close on Wednesday (20 September 2023). The price band of the IPO is fixed at Rs 135-142 per share. An investor can bid for a minimum of 105 equity shares and in multiples thereof.

The IPO comprises consists of a fresh issue of Rs 602 crore and an offer for sale of up to 1,21,83,099 shares by its existing promoters and shareholders.

Out of the proceeds from the fresh issue, Rs 150 crore will be used for strategic investments, acquisitions, and inorganic growth, Rs 392 crore towards investment in customer acquisition and retention, technology and other organic growth initiatives and the balance towards general corporate purposes.

Ahead of the IPO, Yatra Online on Thursday, 14 September 2023 raised Rs 348.75 crore from anchor investors. The board allotted 2.45 crore shares at Rs 142 each to 33 anchor investors.

Yatra Online (Yatra) is India`s leading corporate travel services provider in terms of number of corporate clients and the third largest online travel company in India among key over-the-air (OTA) players interms of gross booking revenue and operating revenue for FY2023.

The company has the largest number of hotel and accommodation tie-ups amongst key domestic OTA players of over 2,105,600 tie-ups, as on March 31, 2023. The company has 813 large corporate customers, 49,800 small and medium enterprises (SME) as its customers.

The company reported a consolidated net profit of Rs 7.63 crore and net sales of Rs 380.16 crore for the twelve months ended on 31 March 2023.