Yatra.com is into Technology-Online Ticketing Platform and is looking raise funds through Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 602 crores and an Offer for Sale up to 12,183,099 Equity Shares.
Yatra.com IPO is a public offering of shares by THCL Travel Holding Cyprus Limitedand Asia Consolidated DMC Pte. Ltd.. The IPO will open on September 15 and will close on September 20. The price band is ₹135 to ₹142 per share and the lot size is 105 shares. The issue size is ₹775. crore. The shares are expected to be listed on NSE, BSE on September 29 (^). Some additional information that you may find useful are: Customer inducement and acquisition cost for 6MFY22/FY21 is Rs. 80.9 crores/Rs. 42.7 crores (v/s 148.6 crores in FY20). Marketing and sales promotion expenses for 6MFY22/FY21 is Rs. 7.9 crores/Rs. 4.4 crores (v/s 19.3 crores in FY20).: (**) - based on higher price band (^) indicative date
Promoters of the company are THCL Travel Holding Cyprus Limitedand Asia Consolidated DMC Pte. Ltd. Currently promoters hold 98.59% stake in the company.
Quick Pointers
- Company aims to raise between Rs 766 to 775 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Strategic investments, acquisitions and inorganic growth to the tune of Rs. 150 crores and 2) Investment in customer acquisition and retention, technology, and other organic growth initiatives amounting to Rs. 500 crores
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 14-Sep-23.
- Price band for the IPO has been fixed at Rs 135 to 142 per share and bid lot are in multiple of 105 shares. The implied market cap post-issue at Rs 2,148 to 2,228 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on September 25 and share are expected to be listed on NSE, BSE on September 29.
- Company has direct competition in the Online Travel market. It is competing with listed players - Easy Trip Planners Limited.
- SBI Capital Markets, DAM Capital, IIFL Securities has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
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About Company
Established in 2005, Yatra Online Limited (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”.
Customer inducement and acquisition cost for 6MFY22/FY21 is Rs. 80.9 crores/Rs. 42.7 crores (v/s 148.6 crores in FY20). Marketing and sales promotion expenses for 6MFY22/FY21 is Rs. 7.9 crores/Rs. 4.4 crores (v/s 19.3 crores in FY20).
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)
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