Online travel company Yatra Online has raised Rs 348.75 crore from anchor investors ahead of its Rs 775-crore initial public offering (IPO). The company allocated 2.45 crore equity shares to 33 entities at Rs 142 apiece.
Anchor investors include ICICI Prudential Mutual Fund, Mirae Asset MF, Tata MF, Max Life Insurance, Massachusetts Institute of Technology, and others. Yatra Online’s IPO is open for public subscription from September 15 to 20, with a price band of Rs 135-142 per share. The IPO comprises fresh issuance of equity shares worth Rs 602 crore and an offer for sale (OFS) of up to 1,21,83,099 shares.
Online travel firm Yatra Online has established a price range of Rs 135-142 per share for its debut public offering, which will be open for public subscription from September 15 to 20. At the top end of the price range, the IPO is expected to raise up to Rs 775 crore.
The IPO is made up of a fresh issuance of equity shares worth Rs 602 crore and an offer for sale (OFS) of up to 1,21,83,099 shares by promoter THCL Travel Holding Cyprus Ltd and investor Pandara Trust – Scheme I, represented by its trustee Vistra ITCL (India) Ltd.
The proceeds from the fresh issue, totaling up to Rs 150 crore, will be used for investments, acquisitions, and inorganic growth, while up to Rs 392 crore will be allocated for customer acquisition and retention, technology, and other organic growth initiatives. SBI Capital Markets Ltd., DAM Capital Advisors Ltd., and IIFL Securities Ltd. serve as the book-running lead managers for the IPO. The company’s shares will be listed on the BSE and NSE.
