Yatra.com appoints 3 Independent Directors to its Board; files Draft Red Herring Prospects for IPO
Yatra Online Limited has appointed three Independent Board Members namely Rohit Bhasin, Deepa Misra Harris and Ajay Narayan Jha as Non-Executive Independent Directors. The company has also filed its Draft Red Herring Prospectus (DRHP) for an initial public offering (the “IPO”) comprising a fresh issue aggregating up to INR 7,500 million, 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.
Welcoming its newest board members, Dhruv Shringi, Whole-time Director & CEO, Yatra Online Limited said “We are excited to announce the addition of the three independent board members to be a part of our team. We look forward to their vision as part of our continued strategic transformation to become a one-stop-shop for all consumer and corporate travel demands and needs. I truly believe, given their experience and passion, that they will be an invaluable asset to the company. 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.”
Commenting on his appointment, Rohit Bhasin, Non-Executive Independent Board Member said, “It gives me immense pleasure to be a part of Yatra’s Board and work with the team to help realise the full potential of its unique business model.”
“Delighted to be on the board of Yatra to support its continuing growth ambition, especially at an inflection point for travel technology.” said Deepa Misra Harris, Non-Executive Independent Board Member.
Also, adding to this, Ajay Narayan Jha said, “I find it exciting and satisfying to be a part of Yatra – a pioneer and leader in bringing digital technology solutions to travel business since inception. As a team we shall remain committed to chart newer heights of excellence.”
Ajay Narayan Jha was a member of the Indian Administrative Service (1982 Batch). In a distinguished career spanning 37 years, he served in different capacities in the Government of India. He was Union Finance Secretary and Expenditure Secretary (2017-2019) in the Ministry of Finance, from where he retired from service. He has also been a member of the 15th Finance Commission.
He is MA in History from St. Stephen’s College, Delhi University, Masters in Economic Policy Management from McGill University, Montreal, Canada and M.Phil in Public Administration from Indian Institute of Public Administration, New Delhi.
Rohit Bhasin is a Chartered Accountant (qualified 1984) with around 37 years of post-qualification experience in leading organisations such as Standard Chartered Bank, AIG Inc, and PricewaterhouseCoopers (PwC). He was a senior partner in the Deals Practice of PwC and India Head of the Valuation and Strategy team and a member of PwC India’s Leadership Team. He also serves as an Independent Director and Chairman, Audit Committee on Star Health and Allied Insurance Limited, India’s largest health insurance company and an Independent Director and Chairman, Nomination & Remuneration Committee of Tanla Solutions Limited.
Deepa Harris brings a unique luxury hospitality and brand perspective with proficiency in Branding, Marketing, Sales and Public Relations. Deepa has a proven track record of delivering double digit growth and escalating brands to leadership positions. With over 30 years of experience in the high-end hospitality category, she has been a significant success driver for India’s original luxury brand, The Taj Group of Hotels. She is currently an Independent Director on the boards of PVR Limited, Jubilant Foodworks Ltd, ADF Foods Ltd, TCPL Packaging Limited, Prozone Intu Properties Ltd and Taj Safaris.
The Board also includes Murlidhara Lakshmikantha Kadaba and Neelam Dhawan. Shringi is the Whole-time Director & CEO of Yatra Online Limited.