Yatra Online IPO opens; check out issue size, price band, bid details

Yatra Online Ltd's initial public offering (IPO) will open for subscription today i.e. September 15, 2023, and will close on Wednesday i.e. September 20, 2023. The offer comprises a fresh issue and an offer for sale by the selling shareholders.

With the initial public offer, Yatra aims for a fresh issue of ₹602 crore and offer for sale up to 12,183,099 equity shares, including an anchor allocation of 24,559,860 equity shares.

"The size of the Fresh Issue aggregating up to ₹7,500.00 million has been reduced by ₹ 1,480.00 million (including the Pre-IPO Placement) and accordingly, the size of the Fresh Issue is for an aggregate amount of up to ₹6,020.00 million," says Yatra in its draft red herring prospectus (DRHP).

The company has set the price band between ₹135 to ₹142 per equity share of face value of ₹1 each for the IPO.

The total bid size of the issue is 3,09,42,356 shares, of which bids have been received for 15,14,310 shares. A total of 13,34,760 bids have been received at the cut-off price, according to the NSE data.

The bid lot has been set at 105 equity shares and in multiples thereof, and ₹2 lakh as the maximum subscription amount for retail investors.

The maximum bid quantity for QIB investors has been set at 30,942,345 equity shares in multiple of 105 shares, while the maximum bid quantity for NIB investors has been set at 14,193,900 equity shares.

The IPO committee of the company has finalised the allocation of 2.4 crore shares to anchor investors at ₹142 per equity shares. Overall, Yatra Online has raised ₹348 crore from anchor investors as on September 14.

At the time of filing of the report, the consolidated bid data on the NSE shows non-institutional investors category has been subscribed 0.01 times, while the quota for retail individual investors has been subscribed 0.25 times. Overall, the issue has been subscribed 0.05 times on the first day of the opening of the IPO subscription so far.

Yatra Online claims to be India’s largest corporate travel services provider in the number of corporate clients and the third largest online travel company in India among key OTA (online travel agency) players in terms of gross booking revenue and operating revenue for fiscal year 2023, according to the CRISIL report. The company says it has the largest number of hotel and accommodation tie-ups among key domestic players at 2,105,600 as of March 31, 2023.

The company's air ticketing revenue surged to ₹5,640 crore in the fiscal year 2023, up from ₹2,764 crore in the fiscal year 2022. Hotels and packages revenue was recorded at ₹815.3 crore in FY23, up from ₹347.8 crore in FY22.