Travel service provider Yatra Online Ltd files preliminary documents for IPO

Leading travel service provider Yatra Online Ltd has filed draft documents with market regulator Sebi for an initial public offering which includes a new issue of shares worth up to Rs 750 crore.

The initial public offering (IPO) would also include an offer to sell (OFS) of up to 93,28,358 shares.

According to the Red Herring Draft Prospectus (DRHP), the company plans to use the net proceeds of the new issue for strategic investments, acquisitions and inorganic growth and investments in customer acquisition and other growth initiatives. organic growth.

The proceeds would also be used for general corporate purposes.

Yatra Online Inc, the parent company of Yatra Online Ltd, is listed on Nasdaq.

The SFO will include the sale of up to 88,96,998 shares by THCL Travel Holdings Cyprus Ltd and up to 4,31,360 shares by Pandara Trust Scheme I through its trustee Vistra ITCL (India) Ltd.

Additionally, the company may consider a new equity issue, including a private placement totaling up to Rs 145 crore. In such a case, the amount of the new issue will decrease.

SBI Capital Markets Ltd, DAM Capital Advisors Ltd and IIFL Securities Ltd are lead managers for the issue.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor