Tag Archives: issue

Yatra to open its IPO on September 15

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.

 

Over 15,000 free tourist visas issued till now

According to a report in The Business Line, international travel to India is a bit slow to pick up with just a little over 15,000 free tourist visas being issued so far out of the five lakh visas that were provisioned by the centre.

In June 2021, the Ministry of Finance had announced a scheme to offer free tourist visas till March 31, 2022. The scheme was applicable for the first 5 lakh visas that will be issued. A foreign tourist stays in India for 21 days on an average while spending around $34 (INR2,400) per day.

According to the official data, 10.93 million foreign tourists visited India in 2019 and spent $30 billion. “We are prepared to welcome back the tourists. Our vaccination programme is doing very well. Besides, all the stakeholders that are part of the tourism eco-system are being fully vaccinated on priority,” said a Tourism Ministry official.

Last month, the government announced granting tourist visas to those travelling by chartered flights by October 15 and those by regular planes from November 15. The e-visa for India is available for the citizens of 156 countries. However, currently, China, Canada and Hong Kong are among the countries that cannot avail this facility.

According to Tourism Ministry officials, Russian tourists have not availed chartered service due to the spike in Covid-19 cases in Russia.

It is expected that the first chartered flight ferrying tourists to India will land in Goa, from the UK, in mid-December 2021.