Yatra Online IPO: Rs 750 crore - Travel service provider files draft prospectus with SEBI
Travel service provider Yatra Online Ltd on Monday said it has filed a draft prospectus with markets regulator Sebi for its initial public offering that includes a fresh issue of shares aggregating up to Rs 750 crore.
Travel service provider Yatra Online Ltd on Monday said it has filed a draft prospectus with markets regulator Sebi for its initial public offering that includes a fresh issue of shares aggregating up to Rs 750 crore.
Yatra also announced the appointments of Rohit Bhasin, Deepa Misra Harris and former bureaucrat Ajay Narayan Jha as non-executive independent directors.
"The company has also filed its Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO) comprising a fresh issue aggregating up to Rs 750 crore and an offer for sale of up to 93,28,358 equity shares, including 88,96,998 equity shares by THCL Travel Holding Cyprus Ltd, one of its promoters," Yatra said in a statement.
Commenting on the IPO plans, Yatra Online Ltd Whole-time Director & CEO Dhruv Shringi said, "The proposed equity offering and the listing will help us accelerate our organic growth plans and provide further capital for exploring inorganic growth opportunities as the travel and tourism industry recovers on the back of easing COVID restrictions".
On the appointment of the three independent directors, he said, "Given their experience and passion" they will be an invaluable asset to the company.
"We are thrilled to embark on our new journey with them as part of our team and the DHRP filing in India as the industry continues to grow," Shringi said.
Bhasin, a chartered accountant, also serves as an independent director and chairman, audit committee on Star Health and Allied Insurance Ltd and an independent director and chairman, nomination & remuneration committee of Tanla Solutions Ltd, the company said.
Harris, on the other hand, is currently an independent director on the boards of PVR Ltd, Jubilant Foodworks Ltd, ADF Foods Ltd, TCPL Packaging Ltd, Prozone Intu Properties Ltd and Taj Safaris, the statement said.
Former civil servant, Jha was Union Finance Secretary and Expenditure Secretary (2017-2019) from where he retired from service, it added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 10 PSU Stocks in 1 Year: Rs 1 lakh investment in top stock has given Rs 5.55 lakh post-tax returns
Gold and Silver rate today (May 23, 2024): Precious metal futures trade under pressure, yellow met below Rs 72,650, white metal near Rs 91,200
Railway Stocks to Buy: These 2 Railway PSU stocks are ready to gather steam, know expert target prices and stop losses
Gold and Silver rate today (May 21, 2024): Precious metal futures trade lower; yellow metal futures below Rs 73,750, white metal futures slips over 1%
SIP Investment, 15x20x12 Formula: How investing Rs 20K monthly can build a corpus of Rs 1 crore in 15 yrs | Know Calculation
03:40 PM IST