The initial public offer (IPO) of online travel company Yatra opened for subscription on Friday, September 15. It will remain open till September 20, 2023. The price band for the IPO is Rs 135-142 per equity share of face value Rs 1 each. The company has allocated 2.49 crore equity shares to 33 entities, according to a circular uploaded on the BSE website. At the upper end of the price band, Yatra's promotors and shareholders seek to raise up to Rs 775 crore.
The Yatra IPO comprises of a fresh issue of 42,394,366 shares worth Rs 602 crore and an Offer for Sale (OFS) of up to 1,21,83,099 shares - the amount promoters are offloading. The promoters are THCL Travel Holding Cyprus Ltd and investor is Pandara Trust - Scheme I, represented by its trustee Vistra ITCL (India) Ltd.
Yatra plans to use the amount it receives from the sale of the IPO towards strategic investments, acquisitions and inorganic growth, investment in customer acquisition and retention, technology, and other organic growth initiatives.
Yatra is the third largest online travel company in the country in terms of gross booking revenue and operating revenue.
Ahead of the IPO, the company raised Rs 348.75 crore from anchor investor. These include ICICI Prudential Mutual Fund (MF), Mirae Asset MF, Tata MF, Bandhan MF, Max Life Insurance, Bajaj Allianz Life Insurance, Massachusetts Institute of Technology, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, Bofa Securities Europe SA, Societe Generale, BNP Paribas Arbitrage and Quantum State Investment Fund.
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