Yatra Online is all set to launch its ₹602 crore worth initial public offering (IPO) on 15 September. The IPO of the travel service provider comprises an offer-for-sale (OFS) of 1,21,83,099 equity shares by the promoters and one investor. The company will announce the price band of the IPO in the next few days, while the face value of the Equity Shares is ₹1 each.
As per the red herring prospectus, Travel Holding Cyprus Limited (THCL) which is the promoter in Online Yatra will offload 17,51,739 equity shares while investor Pandara Trust- Scheme I represented by its trustee Vistra ITCL (India) will offload its entire 4,31,360 shares from the travel service provider.
Yatra Online IPO: Opening, closing, allotment details
The red herring prospectus revealed a tentative timetable for the Yatra Online IPO. The initial public offering will open on 15 September (for anchor investors bidding opens on 14 September). The closing date for the bidding is 20 September and the allotment will be conducted on 25 September.
The refunds will be initiated on 26 September and shares will get credited to the Demat accounts by 27 September. The listing date is 29 September.
As per Chittorgarh.com, not less than 75% of the net offer will be reserved for Qualified Institutional Buyers (QIB). 15% of the net offer will be reserved for Net Institutional Investors (NII) and 10% of the net offer will be reserved for Retail Investors.
Notably, Yatra Online has already raised ₹62.01 from a rights issue as it allotted 26,27,697 shares to THCL. The price for the pre-IPO placement was set as ₹236 each.
Yatra Online IPO: Objectives of the issue
The net proceeds of the issue will be utilized towards strategic investments, acquisitions, and inorganic growth initiatives. The company plans to make investments in customer acquisition and retention, technology, and other organic growth initiatives. The third objective of the issue is to utilize money for general corporate purposes.
Source By: livemint
