TBM Staff - Mumbai The initial share sale of travel service provider Yatra Online Ltd will open for public subscription on Friday September 15.
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 INR 62 crore from a rights issue and allotted 26.27 lakh shares at a price of INR 236 per share, which was a part of pre-IPO placement.
Hence, the size of the fresh issue of INR 750 crore has been reduced by INR 148 crore, including the pre-IPO placement of INR 62.01 crore, and accordingly, the fresh issue is INR 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 INR 150 crore will be utilised towards strategic investments, acquisitions and inorganic growth and up to INR 392 crore towards investment in customer acquisition and retention, technology, and other organic growth initiatives.
