Yatra Online evaluates additional listing of Indian arm on Indian bourses

Move could unlock more value for US investors, provide a liquid stock that can be used for M&As in India, provide further capital to strengthen balance sheet

Nasdaq-listed online travel agency Yatra Online Inc said it is considering an additional listing of its Indian subsidiary on the stock exchanges in India, while retaining its existing listing on the Nasdaq.

Based on its preliminary discussions and analysis, Yatra said it believes among the potential benefits of this listing include access to an additional pool of capital, including retail and institutional investors in India already familiar with Yatra’s business and brand but who are currently restricted from participating in the US markets.

It could further unlock additional value for US shareholders, provide a liquid stock that can be used for local mergers and acquisitions in India, provide further capital to strengthen the balance sheet; and additional sell-side research analyst coverage.

“As we continue to execute on our strategy, our Board of Directors and management team regularly considers opportunities to enhance value for Yatra shareholders,” said Dhruv Shringi, Chief Executive Officer of Yatra. “As part of these ongoing efforts, we are evaluating the benefits of an additional listing in India to support our ongoing strategy, accelerate our growth efforts and strengthen our offerings.  Over the coming weeks our Board and management team will work with its advisors to determine if this is in fact the right approach to unlock additional value for our shareholders.”

The Company has engaged leading Indian financial advisors in connection with its evaluation. There is no assurance that Yatra will proceed with a listing, or that the exchanges would approve a listing application by Yatra, it said in a statement on Thursday.