Business Standard

Travel services provider Yatra Online Ltd files preliminary papers for IPO

According to the Draft Red Herring Prospectus (DRHP), the company plans to utilise the net proceeds from the fresh issue for strategic investments, acquisitions and inorganic growth

Yatra Online evaluates additional listing of Indian arm on Indian bourses

Press Trust of India New Delhi
Leading travel services provider Yatra Online Ltd has filed draft papers with markets regulator Sebi for an initial public offering that includes fresh issue of shares worth up to Rs 750 crore.
The initial public offering (IPO) would also have an offer for sale (OFS) of up to 93,28,358 equity shares.
According to the Draft Red Herring Prospectus (DRHP), the company plans to utilise the net proceeds from the fresh issue for strategic investments, acquisitions and inorganic growth and investment in customer acquisition and other organic growth initiatives.
The proceeds would also be utilised for general corporate purposes.
Yatra Online Inc, the parent of Yatra Online Ltd, is listed on the Nasdaq.
The OFS will comprise the sale of up to 88,96,998 equity shares by THCL Travel Holdings Cyprus Ltd and up to 4,31,360 equity shares by Pandara Trust Scheme I through its trustee Vistra ITCL (India) Ltd.
Also, the company might consider a further issue of equity shares, including a private placement aggregating up to Rs 145 crore. In such a case, the quantum of the fresh issue will come down.
SBI Capital Markets Ltd, DAM Capital Advisors Ltd and IIFL Securities Ltd are the book running lead managers for the issue.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 26 2022 | 2:17 PM IST

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