On Thursday, Online travel company Yatra Online said that it has mobilised Rs 348.75 crore from anchor investors ahead of its Rs 775-crore initial public offering (IPO).
According to the circular uploaded on the BSE, The company has allocated 2.45 crore equity shares to 33 entities at Rs 142 apiece.
ICICI Prudential Mutual Fund (MF), Mirae Asset MF, Tata MF, Bandhan MF, Max Life Insurance, Bajaj Allianz Life Insurance, Massachusetts Institute of Technology, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, Bofa Securities Europe SA, Societe Generale, BNP Paribas Arbitrage and Quantum State Investment Fund are among the anchor investors.
For its first public offering, the company has set a price range of Rs 135-142 per share, which will be available for public subscription from September 15 to 20.
At the upper end of the price band, the IPO will fetch up to Rs 775 crore.
The IPO includes an offer for sale (OFS) of up to 1,21,83,099 shares worth Rs 602 crore by the promoter, THCL Travel Holding Cyprus Ltd, and investor Pandara Trust – Scheme I, represented by its trustee Vistra ITCL (India) Ltd.
Up to Rs 150 crore in proceeds from the fresh issue would be used for strategic investments, acquisitions, and inorganic expansion, and up to Rs 392 crore will be invested in initiatives for organic growth such as customer acquisition and retention, technology, and other.
Yatra Online Ltd is a corporate travel services provider in terms of number of corporate clients and the third largest online travel company in the country among key online travel players in terms of gross booking revenue and operating revenue.
Book-running lead managers to the IPO are SBI Capital Markets Ltd, DAM Capital Advisors Ltd and IIFL Securities Ltd.
The shares of the company will be listed on the BSE and NSE.
