- By Vaamanaa Sethi
- Tue, 12 Sep 2023 04:10 PM (IST)
- Source:JND
Travel tech startup Yatra Online will open for subscription on September 15 and will close on September 20. The anchor investor’s issue will start on September 14.
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The company has set a price band of Rs 135-Rs142 per share. The basis of allotment will be announced on September 25 and equity shares will be credited to demat accounts on September 26. The firm will list on exchanges on September 29.
The firm is looking to raise up Rs 602 crore via fresh issue and an offer for sale of up to 12.18 million shares from its promoters and existing shareholders. On the upper-end price band, the total issue size comes at Rs 775 crore while the firm is valued at Rs 2,230 crore.
SBI Capital Markets, DAM Capital Advisors, and IIFL Securities are the merchant bankers to the issue, while Link Intime India is the registrar.
As per reports, Promoter THCL Travel Holding Cyprus will offload 1.75 million shares, while investor Pandara Trust – SCHEME I, represented by its trustee Vistra ITCL (India), plans to exit the company by selling its entire 4,31,360 shares through the OFS.
The company will utilise the net fresh issue proceeds for strategic investments, acquisitions and inorganic growth amounting to Rs 150 crore, and investment in customer acquisition and retention, technology, and other organic growth initiatives, estimated at a cumulative sum of Rs 392 crore. The remaining money will be used for general corporate purposes.
Network18 Media & Investments, and Reliance Retail, subsidiaries of Reliance Industries, are the public shareholders in the company with 0.95% and 0.08% stake, respectively.
