Yatra Online, a leading corporate travel service provider, is all set to make its debut on the stock exchange with an initial public offering (IPO) scheduled for September 15. The offering comprises a fresh issuance of shares valued at Rs 602 crore, along with an offer-for-sale (OFS) of 1,21,83,099 equity shares by both the promoter and a key investor.

THCL Travel Holding Cyprus, the promoter, plans to divest 17,51,739 equity shares, while investor Pandara Trust – SCHEME I, represented by Vistra ITCL (India) as its trustee, intends to exit the company by selling its entire holding of 4,31,360 shares through the OFS.

Notably, prior to the IPO, Yatra Online had already secured Rs 62.01 crore from a rights issue and had allocated 26,27,697 shares to THCL at an issue price of Rs 236 per share, as part of the pre-IPO placement. Consequently, the size of the fresh issue, initially set at Rs 750 crore, has been adjusted to Rs 602 crore, factoring in the pre-IPO placement.

The precise price band for the IPO will be disclosed by the company in the coming days.

Yatra Online has outlined its intended use of the net proceeds from the fresh issue, with Rs 150 crore earmarked for strategic investments, acquisitions, and inorganic growth initiatives. An estimated Rs 392 crore will be allocated towards customer acquisition and retention, technology enhancements, and other organic growth strategies. The remaining funds will be utilized for general corporate purposes.

As of now, the major stakeholders in Yatra Online include THCL Travel Holding Cyprus, holding an 88.91 percent stake, and Asia Consolidated DMC Pte Ltd, with a 9.68 percent stake. Public shareholders in the company include Network18 Media & Investments and Reliance Retail, both subsidiaries of Reliance Industries, with stakes of 0.95 percent and 0.08 percent, respectively.

Investors keen on participating in this opportunity should take note that the public issue is set to conclude on September 20, with the anchor book opening for a single day on September 14.

Yatra Online proudly claims the title of India’s largest corporate travel services provider, boasting the highest number of corporate clients. Additionally, it ranks as the third largest online travel company in India among key online travel agency (OTA) players, based on gross booking revenue and operating revenue for the fiscal year 2023. The company’s extensive network includes over 21,05,600 tie-ups with hotels and accommodations, making it a prominent player in the domestic OTA space as of March 2023.

The IPO is being expertly managed by SBI Capital Markets, DAM Capital Advisors, and IIFL Securities, with Link Intime India serving as the registrar.

For more updates on this highly anticipated IPO and the latest developments in the financial world, stay tuned to our website.