The Initial Public Offering of Yatra Online Ltd, largest corporate travel services provider, was subscribed 1.61 times on the last day of bidding.
The issue received bids of 4,98,92,430 shares against the offered 3,09,42,356 equity shares, at a price band of ?135-142, according to the data available on the stock exchanges.
Qualified Institutional Buyer Portion was subscribed 2.05 times, Non-Institutional Investors Portion was subscribed 0.42 times. whereas, Retail Portion was subscribed 2.11 times.
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.
Yatra Online Limited is 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.
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.