NEW DELHI: The NASDAQ-listed online travel service provider Yatra Online is gearing up to launch a domestic IPO (initial public offering). Its Indian units had last week filed its draft red herring prospectus (DRHP) with the capital markets regulator SEBI last week and on Monday it said it’s IPO compromises of a fresh issue aggregating up to Rs 750 crore, and an offer for sale of up to 9,328,358 equity shares including 8,896,998 equity shares by THCL Travel Holding Cyprus Limited, one of its promoters.
The remaining shares will be sold by Pandara Trust. According to the DRHP, the offer for sale portion of the issue will see 8.3% of the current total outstanding shares be sold. The company also announced the appointment of Independent Board Members namely Rohit Bhasin, Deepa Misra Harris and Ajay Narayan Jha as Non-Executive Independent Directors.
Dhruv Shringi, Whole-time Director & CEO, Yatra Online Limited said “ We are thrilled to embark on our new journey with them as part of our team and the DHRP filing in India as the industry continues to grow. The proposed equity offering and listing will help us accelerate our organic growth plans and provide further capital for exploring inorganic growth opportunities as the travel and tourism industry recovers on the back of easing Covid restrictions.” In recent times, a handful of travel firms have decided to go public. Yatra’s rival Ixigo filed had last year filed for a Rs 1,600 crore IPO while EaseMytTrip has emerged as a big wealth creator since it got listed in March 2021.