Sunil Shankar Matkar
11th of September, 2023 / 06:20 AM IST
Company commute provider provider Yatra On-line is made up our minds to open its initial public offering on September 15. It contains new issuance of shares price Rs 602 crore and a proposal-for-sale (OFS) of 1,21,83,099 equity shares by the promoter and an investor.
Promoter THCL Chase Retaining Cyprus will offload 17,51,739 equity shares, whereas investor Pandara Have faith – SCHEME I, represented by its trustee Vistra ITCL (India), plans to exit the corporate by selling its entire 4,31,360 shares by design of the OFS.
The third biggest online commute company has raised Rs 62.01 crore from a rights narrate and dispensed 26,27,697 shares to THCL at an argument ticket of Rs 236 each and every, which is a ingredient of the pre-IPO placement.
Which skill truth, the scale of the new narrate of Rs 750 crore has been reduced by Rs 148 crore, at the side of the pre-IPO placement of Rs 62.01 crore, and accordingly, the new narrate is Rs 602 crore.
The fee band will seemingly be announced by the corporate in the next few days.
The corporate will utilise the score new narrate proceeds for strategic investments, acquisitions and inorganic growth amounting to Rs 150 crore, and investment in customer acquisition and retention, expertise, and other natural growth initiatives, estimated at a cumulative sum of Rs 392 crore. The ideal money will seemingly be archaic for no longer contemporary company capabilities.
Promoters THCL Chase Retaining Cyprus holds 88.91 p.c stake in Yatra On-line and Asia Consolidated DMC Pte Ltd 9.68 p.c, whereas Network18 Media & Investments, and Reliance Retail, subsidiaries of Reliance Industries, are the final public shareholders in the corporate with 0.95 p.c and zero.08 p.c stake, respectively.
The public narrate will conclude on September 20, whereas the anchor ebook will birth for a day on September 14.
Yatra On-line claimed to be the India’s biggest company commute products and companies provider by manner of the assortment of company customers and the third biggest online commute company in India among key OTA (online commute agency) players by manner of execrable booking income and working income, for FY23. It has the biggest assortment of resort and lodging tie-united statesamong key home OTA players of over 21,05,600 tie-ups, as of March FY23.
SBI Capital Markets, DAM Capital Advisors, and IIFL Securities are the provider provider bankers to the narrate, whereas Link Intime India is the registrar.
Disclaimer: MoneyControl is a ingredient of the Network18 team. Network18 is managed by Impartial Media Have faith, of which Reliance Industries is the one real beneficiary.
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