Yatra IPO : Yatra Attracts Top Investors with Rs 348.75 Crore Ahead of IPO Launch

 

Yatra Online, one of India's leading online travel companies, successfully raised Rs 348.75 crore from 33 anchor investors on September 14, just a day prior to the commencement of its initial public offering (IPO). This impressive pre-IPO investment includes participation from prestigious names in the investment world, setting the stage for a promising IPO launch.

Anchor Investors' Participation: Some of the notable anchor investors that participated in Yatra Online's anchor book are Morgan Stanley, Goldman Sachs, Societe Generale, BNP Paribas Arbitrage, Elara India Opportunities Fund, Whiteoak Capital, and Quantum-State Investment Fund. Additionally, renowned institutions like ICICI Prudential Mutual Fund, Mirae Asset, Tata Mutual Fund, Bandhan Mutual Fund, Max Life Insurance Company, Bajaj Allianz Life Insurance Company, and Edelweiss Trusteeship also expressed their confidence in the company by investing through the anchor book.

Allocation Details: In its filing with the exchanges, Yatra Online disclosed that it has allocated a total of 2,45,59,860 equity shares to anchor investors at a price of Rs 142 per share. Among these allocations, 1,48,59,390 equity shares were designated for six domestic mutual funds through 19 schemes.

Upcoming IPO: Yatra Online is set to launch its initial public offering (IPO) valued at Rs 775 crore on September 15. This IPO comprises a fresh issuance of shares worth Rs 602 crore and an offer-for-sale (OFS) of 1,21,83,099 equity shares amounting to Rs 173 crore at the upper price band. The shares in the OFS are being offered by the promoter and an investor.

Selling Shareholders: The promoter, THCL Travel Holding Cyprus, and investor Pandara Trust – SCHEME I, represented by its trustee Vistra ITCL (India), will be the selling shareholders in the OFS. Notably, Pandara Trust intends to exit the company completely by selling its entire 4,31,360 shares through the OFS. Source : MoneyControl

IPO Price Band: The price band for Yatra Online's IPO has been set at Rs 135-142 per share. Investors are eagerly watching this IPO, which is open for subscription until September 20.

Utilization of Funds: The net proceeds from the fresh issue will fund strategic investments, acquisitions, and inorganic growth amounting to Rs 150 crore. Additionally, investments in customer acquisition, retention, technology enhancements, and other organic growth initiatives, estimated at a cumulative sum of Rs 392 crore, will be covered through these funds. The remaining funds will be allocated for general corporate purposes.

Yatra Online's successful anchor book subscription and upcoming IPO reflect investor confidence in the company's growth potential and its position in the competitive travel industry. The funds raised through the IPO are poised to fuel further expansion and innovation in the corporate travel sector, solidifying Yatra Online's position as a prominent player in India's online travel space.