 "IPO")
The initial share sale of travel service provider Yatra Online Ltd will open for public subscription on Friday.
The three-day Initial Public Offering (IPO) will conclude on September 20 and the bidding for anchor investors will open on September 14 and for retail on September 15, according to the Red Herring Prospectus (RHP) filed on Friday.
The online travel company had raised Rs 62 crore from a rights issue and allotted 26.27 lakh shares at a price of Rs 236 per share, which was a part of pre-IPO placement.
Hence, the size of the fresh issue of Rs 750 crore has been reduced by Rs 148 crore, including the pre-IPO placement of Rs 62.01 crore, and accordingly, the fresh issue is Rs 602 crore.
The company has revised its Offer For Sale (OFS) component from 93.28 lakh equity shares to 1.22 crore equity shares after its promoter, THCL Travel Holding Cyprus Ltd offloading more shares in the issue.
The OFS now comprises up to 1.17 crore equity shares by THCL Travel Holding Cyprus Ltd and up to 4.31 lakh shares by investor Pandara Trust - Scheme I, represented by its trustee Vistra ITCL (India) Ltd, as per the RHP.
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.
SBI Capital Markets Ltd, DAM Capital Advisors Ltd and IIFL Securities Ltd are the book-running lead managers to the IPO.
The shares of the company will be listed on the BSE and NSE.
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