Yatra Online IPO opens today: Check price band, lot size, and other key details

Yatra IPO News Today: The initial public offering (IPO) of Yatra Online, an online travel company, will open for subscription today i.e. September 15. The Yatra IPO comprises a fresh issuance of Rs 602 crore worth of shares and an offer for sale (OFS) of up to 12.2 million shares by a promoter and existing investor. 

Yatra Online IPO: Subscription open and end date

The IPO of Yatra Online will open for subscription from 15 September. Investors can subscribe to the IPO till September 20. However, the bidding will be allowed only for three days as the market will remain closed over the weekend.

According to the information available on the website of the Bombay Stock Exchange (BSE), the new cut-off time for UPI mandate acceptance is 05:00 PM on the last day of IPO bidding i.e. September 20. Investors can bid for a minimum of 105 equity shares and in multiples of 105 equity shares thereafter, the company said.

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The equity shares are proposed to be listed on BSE and NSE.

Yatra Online IPO: Price Band

The company, which was incorporated in 2005, has fixed the price band for its IPO at Rs 135-142 per equity share. This price band fixed by the company for the IPO is much lower than the price at which Yatra Online had issued shares to one of its promoters last year as a pre-IPO placement. The online travel company had sold shares worth Rs 62.01 crore by way of a rights issue to its promoter THCL Travel Holding Cyprus Ltd. on 10 December 2022 at an issue price of ₹236 apiece. 

Yatra Online IPO: Shares available

The IPO comprises fresh issuance of equity shares worth Rs 602 crore and an Offer for Sale (OFS) of up to 12,183,099 shares. At the upper price band of the issue, the IPO will fetch up to Rs 775 crore.

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According to the company, the proceeds from the fresh issue will be utilised to the tune of Rs 150 crore for strategic investments, acquisitions, and inorganic growth."Another significant portion, Rs 392 crore for investment in customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes," Yatra Online CEO Dhruv Shringi told reporters.

Yatra Online IPO: Book Running Lead Manager 

SBI Capital Markets, DAM Capital Advisors and IIFL Securities are the book-running lead managers to the issue.

Yatra Online IPO: Registrar

Link Intime India Private Limited has been appointed as the registrar for the issue. 

Meanwhile, the company's consolidated revenue from operations increased to Rs 380 crore in FY23, from Rs 198 crore in the previous fiscal. In FY23, the company generated a profit of Rs 7.6 crore.