NEW DELHI: Leading travel services provider Yatra Online Ltd has submitted papers to market regulator Sebi for an IPO involving an initial public offering of shares worth up to Rs 750 crore. The initial public offering (IPO) would also have an offer to sell (OFS) of up to 93,28,358 shares.
Pursuant to the Draft Red Herring Prospectus (DRHP), the Company plans to use the net proceeds from the new offering for strategic investments, acquisitions and inorganic growth, as well as investments in customer acquisition and other organic growth initiatives.
Proceeds would also be used for general corporate purposes.
Yatra Online Inc, the parent company of Yatra Online Ltd, is listed on the Nasdaq.
The OFS includes the sale of up to 88,96,998 shares by THCL Travel Holdings Cyprus Ltd and up to 4,31,360 shares by Pandara Trust – Scheme I through its trustee Vistra ITCL (India) Ltd.
Also, the company may consider further share issuance including a private placement totaling up to Rs 145 crore. In such a case, the quantity of the new issue decreases.
SBI Capital Markets Ltd, DAM Capital Advisors Ltd and IIFL Securities Ltd are the lead bookers for the offering.
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