Yatra Online sets price band at Rs 135-142 for its Rs 775 crore IPO

Traveltech Startup Yatra Online Ltd has set a price range of Rs 135-142 per share for the IPO which will open for subscription on September 15. The anchor book will launch on September 14 and the program will close on September 20.
The allotment basis will be announced on September 25 and the shares will be credited to the demat account on September 26. The company will list on the stock exchange on September 29.
The company plans to raise Rs 602 crore through fresh issue and offer for sale of up to 12.18 million shares from promoters and existing shareholders. At the higher price bracket, the total issue size stood at Rs 775 crore while the company was valued at Rs 2,230 crore.
Promoter THCL Travel Holding Cyprus will sell 1.75 million shares, while investor Pandara Trust – SCHEME I, represented by Vistra trustee ITCL (India), plans to exit the company by sell all 4 31,360 of its shares through OFS.
The company will use the proceeds from this issue for strategic investments, acquisitions and inorganic growth of up to Rs 150 crore, as well as investing in customer acquisition and retention , technology and other organic growth initiatives, estimated a cumulative total of Rs 392 crore. The remaining amount will be used for general company purposes. Promoter THCL Travel Holding Cyprus holds 88.91% stake in Yatra Online and Asia Consolidated DMC Pte Ltd with 9.68%, while Network18 Media & Investments and Reliance Retail, subsidiaries of Reliance Industries, are shareholders. The company’s public shareholders with 0.95% and 0.08%. set accordingly. Yatra Online claims to be the largest corporate travel service provider in India in terms of number of corporate customers and the third largest online travel company in India among OTA (travel agency) companies. online calendar) large in terms of total booking revenue and operating revenue, for fiscal year 2023. . It has the highest number of hotel and accommodation associations among the top OTA companies in the country, with over 21,05,600 associations, as of March FY23.
SBI Capital Markets, DAM Capital Advisors and IIFL Securities are the investment bankers involved in the issue, while Link Intime India is the registrar.