The Initial Public Offer of travel company Yatra Online was subscribed 1.61 times on the last day of subscription on Wednesday. The Rs 775 crore initial share sale got bids for 4,98,92,325 shares against 3,09,42,356 shares on offer, as per NSE data.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The category for Retail Individual Investors (RIIs) received 2.11 times subscription while the quota for Qualified Institutional Buyers (QIBs) got subscribed 2.05 times. The portion for non-institutional investors was subscribed 42 per cent.

The Initial Public Offer (IPO) had a fresh issue of up to Rs 602 crore and an offer for sale of up to 1.21 crore equity shares. The price range for the offer was Rs 135-142 a share. On September 14, Yatra Online said it has mobilised Rs 348.75 crore from anchor investors.

Proceeds from the fresh issue worth up to Rs 150 crore will be utilised towards strategic investments, acquisitions and inorganic growth and up to Rs 392 crore towards investment in customer acquisition and retention, technology, and other organic growth initiatives.

Yatra Online Ltd is a corporate travel services provider in terms of the number of corporate clients and the third largest online travel company in the country among key online travel players in terms of gross booking revenue and operating revenue.

The shares of the company will be listed on the BSE and the NSE. SBI Capital Markets, DAM Capital Advisors and IIFL Securities were the managers to the offer.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.