Yatra.com is into Technology Online Ticketing Platform and is looking raise funds through Fresh Issue and Offer for Sale
Yatra.com IPO: Yatra Online Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 1 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 750 crores and an Offer for Sale up to 9,328,358 Equity Shares.. SBI Capital Markets, DAM Capital, IIFL Securities have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 750 Crs and offer-for-sale (OFS) of up to 9,328,358 equity shares by THCL TRAVEL HOLDING CYPRUS LIMITED and PANDARA TRUST –SCHEME I REPRESENTED BY ITS TRUSTEE VISTRA ITCL (INDIA) LIMITED who will offload Upto 8,896,998 EquityShares and Up to 431,360 Equity Shares...
Objects of the issue:
1) Strategic investments, acquisitions and inorganic growth to the tune of Rs. 150 crores, 2) Investment in customer acquisition and retention, technology, and other organic growth initiatives amounting to Rs. 500 crores, and 3) General corporate purposes.
Promoters of Yatra.com are THCL Travel Holding Cyprus Limitedand Asia Consolidated DMC Pte. Ltd. and holds 98.55% stake in the company.
About Company:
Established in 2005, Yatra.com is India’s largest corporate travel services provider and the second largest online travel company in India among key OTA players in terms of gross booking revenue and operating revenue, for FY20. (Source: CRISIL Report). Company has largest number of hotel and accommodation tie-ups amongst key OTA players with over 2,094,000 tie-ups, as on October 29, 2021. (Source: CRISIL Report).
Its parent/holding company is Yatra Online, Inc., a Cayman Islands limited company with shares listed in the United States of America on NASDAQ Capital Market under the symbol “YTRA”.
About Industry:
The Indian travel industry is expected to grow at 5-7% CAGR, expandingto ₹3,350-3,370 billion in fiscal 2025 from ₹ 2,470-2,490 billion in fiscal 2020, driven by development of tourism infrastructure, rising income levels translating to higher discretionary spending on travel and tourism, and increase in frequency of travel for business and leisure purposes. The online travel market in India is estimated to grow to ₹ 2,390-2,410 billion in fiscal 2025 from ₹ 1,480-1,500 billion in fiscal 2020, or at 9-11% CAGR. Within the online travel market, share of online travel agencies (OTAs) is expected to increase faster in comparison with captive players.(Source: CRISIL Report)
Source: SEBI, BSE, NSE, DRHP, Yatra.com, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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