Home Tradeline Yatra Online Limited files preliminary papers for IPO

Yatra Online Limited files preliminary papers for IPO


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.

“Over the last 15 years, we have grown our business to become one of India’s leading online travel agencies,” said Dhruv Shringi, Chief Executive Officer of Yatra Online, Inc. “The Indian travel industry is expected to continue to grow, driven by development of tourism infrastructure, rising discretionary spending and more frequent business and leisure travel. With this proposed equity offering, we will be able to tap into a complementary shareholder base which provides a tremendous opportunity to benefit from growing tourism spending in India and to accelerate the important growth initiatives we have underway, driving value for our investors over the long-term.”


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