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Yatra India Receives Sebi Nod For IPO, To Raise Rs 750 Crore
The travel services provider will use the IPO proceeds for strategic investments, acquisitions and inorganic growth.
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Yatra India, a Gurugram-based leading corporate travel services provider, has received capital markets regulator Sebi’s go ahead to raise Rs 750 crore through an initial public offering (IPO).
“Yatra India had filed the draft red herring prospectus (DRHP) with SEBI through which Yatra India has proposed an IPO of its equity shares comprising a fresh issue of up to Rs 750 crore by Yatra India ("fresh issue" or "primary sale") and an offer for sale of up to 9,328,358 equity shares,” said the Nasdaq-listed Yatra Online Inc, the parent company of Yatra India, in a statement, on Saturday.
The company received the final observation letter dated November 17 from Sebi in connection with its DRHP filed in March. The proposed IPO can open for subscription within a period of 12 months from the date of issuance of the observation letter, the statement added.
Yatra India plans to use lion share of the IPO proceeds towards strategic investments, acquisitions and inorganic growth. The fund will also be utilised for customer acquisition other organic growth initiatives and corporate purposes.
Gurugram-headquartered Yatra India has approximately 700 large corporate customers and over 46,000 registered SME customers. It is the second largest consumer online travel company (OTC) in the country, in terms of gross booking revenue in 2020 FY, the statement added.
Yatra Inc also announced that it will report its second quarter financial results for the period ended September 30, 2022 before market opens in New York on Tuesday, November 29, 2022.