Yatra Online Limited, corporate travel services provider and the second-largest online travel company among key online travel agency (OTA) players in terms of gross booking revenue and operating revenue, for fiscal 2020 has filed its draft red herring prospectus (DRHP) with market regulator Sebi to raise funds via an initial public offering (IPO).
The Offer is being made through the Book Building Process, wherein not less than 75 percent of the Offer shall be available for allocation to Qualified Institutional Buyers. Is not more than 15 percent of the Offer shall be available for allocation to Non-Institutional Bidders. Is not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders.
A unit of Yatra Online Inc, THCL (Travel Holding Cyprus Ltd) will dilute some of its holding in the Indian unit and sell around 8.9 million shares as part of the secondary share sale. The parent company said in a draft red herring prospectus to the Securities and Exchange Board of India (SEBI).
IPO Details
According to the Draft Red Herring Prospectus (DRHP), the company plans to utilize 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 utilized 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.
About Company
Yatra Online, Inc is the parent company of Yatra Online Limited, based in Gurugram. It has approximately 700 large corporate customers, and over 46,000 registered SME customers.
Launched in August 2006, Yatra Online is based in Gurugram. Yatra is India’s leading Corporate Travel services provider with over 700+ Corporate customers. One of India’s leading online travel companies operates the website Yatra.com.
The company provides information, pricing, availability, and booking facility for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in-city activities, inter-city, and point-to-point cabs, homestays, and cruises.
As a leading platform of accommodation options, Yatra provides real-time bookings for more than 103,000 hotels in India and over 1,500,000 hotels around the world.
