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On Friday, Yatra, a major player in the online travel sector, announced it will be opening its Initial Public Offering (IPO) for subscription today and will conclude on September 20.
Founded in 2006, the company is a leader in Corporate Travel services and also facilitates information pertaining to domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, cruises, in-city and inter-city activities and logistics.
Yatra is aiming to raise INR 602 crore through its IPO and will get listed on the BSE. The IPO will consist of a fresh issue of 42,394,366 equity shares with a face value of INR 1 and an offer price of INR 135-142 and an Offer for Sale up to 12,183,099 Equity Shares. The offloading parties are THCL Travel Holding Cyprus Limited and Pandara Trust– Scheme I Represented, by its Trustee Vistra, and ITCL (India) Limited.
The shares were made available to anchor investors on Thursday. According to reports, the company raised INR 348.75 crore from 33 anchor investors. The list includes the likes of ICICI Prudential Mutual Fund (MF), Mirae Asset MF, Tata MF, Bandhan MF, Massachusetts Institute of Technology, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, Bofa Securities Europe SA, Max Life Insurance, Bajaj Allianz Life Insurance, Societe Generale, BNP Paribas Arbitrage and Quantum State Investment Fund.
Investors can apply for a minimum of 105 Equity Shares and in multiples of 105 Equity Shares thereafter. 75 per cent, 15 per cent and 10 per cent will be reserved for Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Investors, respectively.
Yatra will be utilizing the funds raised for making strategic investments, acquisitions and inorganic growth, organic growth initiatives, and general corporate proceedings.
The issue will have SBI Capital Markets Ltd, DAM Capital Advisors Ltd and IIFL Securities Ltd as the book-running lead managers with Link Intime India Private Ltd being the IPO’s registrar.
