Business
Yatra Online Limited Announces Full Subscription of Its Anchor Book of INR 3487.50 Million (~US$42 Million), IPO Opens for Public Investors on September 15th 2023
Mumbai, India and New York, New York--(Newsfile Corp. - September 14, 2023) - Yatra Online Limited ("Company" or "Issuer"), a subsidiary of Yatra Online,
About this update from Yatra Online, Inc.
[{"type":"text","content":"Mumbai, India and New York, New York--(Newsfile Corp. - September 14, 2023) - Yatra Online Limited (\"Company\" or \"Issuer\"), a subsidiary of Yatra Online, Inc., (NASDAQ: YTRA), 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 terms of gross booking revenue and operating revenue, for Fiscal Year 2023 (Source: CRISIL Report), today announced that it had successfully closed its anchor book will full subscription under SEBI's regulatory framework of INR 3487.50 Million (~US$42 Million) for its initial public offering. The initial public offering (\"IPO\" or \"Offer\") of the Company will open to public investors on Friday, September 15, 2023, for subscription and close on Wednesday, September 20, 2023.\nThe IPO comprises a fresh issue of Equity Shares worth INR 6,020 Million and an Offer for Sale (OFS) of up to 12,183,099 Equity Shares. This is based on a pre-money valuation of INR 16000 Million (~US$193 Million), which equates to ~US$3.03 per share based on a basic share count of ~63.6 Million and ~US$2.90 per share based on a fully diluted share count of ~66.7 Million shares outstanding of Yatra Online, Inc. (NASDAQ: YTRA). The Anchor Book accounts for 45% of the total Offer (IPO + OFS) size.\nIn addition, Yatra Online, Inc. will also receive proceeds of ~US$20 Million from selling shareholder THCL Travel Holding Cyprus Limited (\"THCL\"), which is a wholly owned subsidiary of Yatra Online, Inc.\nThe proposed IPO, including its terms and final size, is subject to market and other conditions, and there can be no assurance as to whether the IPO will be consummated in a timely manner or at all.\nSBI 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.\nDISCLAIMER: YATRA ONLINE LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a draft red herring prospectus dated March 24, 2022 (\"DRHP\") with the Securities and Exchange Board of India (\"SEBI\") and the red herring prospectus dated September 8, 2023 ...