Yatra Online Limited ("Company" or "Issuer"), India's largest corporate travel services provider in terms of number of corporate clients and the third largest online travel company in India among key OTA players in terms of gross booking revenue and operating revenue, for Fiscal Year 2023 (Source: CRISIL Report), has fixed the price band at ?135 to ?142 per Equity Share for its initial public offering. The initial public offering ("IPO" or "Offer") of the Company will open on Friday, September 15, 2023, for subscription and close on Wednesday, September 20, 2023. Investors can bid for a minimum of 105 Equity Shares and in multiples of 105 Equity Shares thereafter.
The initial public offering Equity Shares comprises of fresh issuance of Equity Shares worth Rs 6,020 million and an Offer for Sale (OFS) of up to 12,183,099 Equity Shares.
The Company in consultation with the lead bankers had undertaken a Pre-IPO Placement of Rs 62.01 crore by way of rights issue and allotted 2,627,697 Equity Shares of face value ?1 each to its Promoter, THCL Travel Holding Cyprus Limited on December 10, 2022 at an Issue Price of ?236.
Proceeds from the fresh issue will be utilize to the tune of Rs. 150 crores for strategic investments, acquisitions, and inorganic growth, Rs. 392 crores for investment in customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes.
The Company provides access to hotels, homestays, and other accommodations through its platform, and has the largest number of hotel and accommodation tie-ups amongst key domestic OTA players of over 105,600 hotels, as on March 31, 2023 (Source: CRISIL Report). It is a one-stop shop for travellers, offering vacation packages as well as visa facilitation, tours, sightseeing, shows, and events.
The Company competes with other online travel agencies, or OTAs, traditional offline travel companies, travel research companies, payment wallets, search engines, and meta search companies, both in India and abroad, including MakeMyTrip (India) Private Limited, Cleartrip Private Limited, Easy Trip Planners Limited, Thomas Cook India Limited, FCM Travel Solutions (India) Private Limited, GBT India Private Limited, CWT India Private Limited and Le Travenues Technology Limited. For the financial year ending March 31, 2023, the Company's consolidated revenue from operations increased to Rs 3,801.60 million from Rs 1,980.66 million in the previous fiscal 2022, primarily due to recovery in both its consumer and corporate travel business due to the diminishing the impact of COVID-19. For the fiscal year 2023, the Company generated a profit of Rs 76.32 million as compared to a loss of Rs 307.86 million for last fiscal year.
SBI Capital Markets Limited, DAM Capital Advisors Limited and IIFL Securities Limited are the book running lead managers and Link Intime India Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE. |
