Price Band ₹135 To ₹142 Per Apiece
Yatra Online is a one-stop shop for travellers, offering vacation packages as well as visa facilitation, tours, sightseeing, shows, and events
MUMBAI, Sep 12 (the CONNECT) – Travel company Yatra Online Limited has fixed the price band at ₹135 to ₹142 per apiece for its initial public offering (IPO) that will be open from September 15 to 20.
Yatra Online is India’s largest corporate travel services provider in terms of number of corporate clients and the third largest online travel company in India among key OTA players in gross booking revenue and operating revenue, for Fiscal Year 2023, as a Crisil report.
Investors can bid for a minimum of 105 Equity Shares and in multiples of 105 Equity Shares thereafter.
The issue comprises of fresh issuance of equity shares worth Rs 602 crores and an Offer for Sale of up to 12,183,099 Equity Shares.
The Company has already undertaken a pre-IPO placement of Rs 62.01 crore by rights issue and allotted 2,627,697 Equity Shares of face value ₹1 each to its Promoter, THCL Travel Holding Cyprus Limited on December 10, 2022 at an issue price of ₹236.
Proceeds from the fresh issue will be utilize for strategic investments, acquisitions and inorganic growth (Rs 150 cr), for investment in customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes (Rs 392 cr).
The Company provides access to hotels, homestays, and other accommodations through its platform, and has the largest number of hotel and accommodation tie-ups amongst key domestic OTA players of over 105,600 hotels, as on March 31, 2023 as per a CRISIL Report.
Yatra is a one-stop shop for travellers, offering vacation packages as well as visa facilitation, tours, sightseeing, shows, and events, said company CEO DShruv Shringe.
The Company competes with other online travel agencies( OTAs), traditional offline travel companies, travel research companies, payment wallets, search engines, and meta search companies, both in India and abroad, including MakeMyTrip (India) Private Limited, Cleartrip Private Limited, Easy Trip Planners Limited, Thomas Cook India Limited, FCM Travel Solutions (India) Private Limited, GBT India Private Limited, CWT India Private Limited and Le Travenues Technology Limited.
For the financial year ending March 31, 2023, the Company’s consolidated revenue from operations increased to Rs 3,801.60 million from Rs 1,980.66 million in the previous fiscal 2022, primarily due to recovery in both its consumer and corporate travel business due to the diminishing the impact of COVID-19. For the fiscal year 2023, the Company generated a profit of Rs 76.32 million as compared to a loss of Rs 307.86 million for last fiscal year.
SBI Capital Markets Limited, DAM Capital Advisors Limited and IIFL Securities Limited are the book running lead managers and Link Intime India Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.