 "IPO")
The Initial Public Offering (IPO) of travel company Yatra Online Ltd was subscribed 11 per cent on the first day of bidding on Friday.
The Rs 775 crore IPO received bids for 33,63,675 shares against 3,09,42,356 shares on offer, according to NSE data.
The category for retail individual investors received 55 per cent subscription while the quota for non-institutional investors got subscribed 3 per cent.
The IPO has a fresh issue of up to Rs 602 crore and an offer for sale of up to 12,183,099 equity shares.
The IPO is in the price range of Rs 135-142 per share.
Yatra Online on Thursday said it has mobilised Rs 348.75 crore from anchor investors.
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At the upper end of the price band, the IPO will fetch up to Rs 775 crore.
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 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 are the managers to the offer.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
