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Nasdaq-listed Yatra Online’s Indian unit files for Rs 750 Cr IPO

NASDAQ-listed online travel booking website Yatra Online Inc filed for an initial public offering (IPO) for its Indian unit, Yatra Online Ltd, with market regulator SEBI to raise Rs 750 crore via the sale of primary and secondary shares.

A unit of Yatra Online Inc, THCL (Travel Holding Cyprus Ltd) will dilute some of its holding in the Indian unit and sell around 8.9 million shares as part of the secondary share sale, the parent company said in a draft red herring prospectus to the Securities and Exchange Board of India (SEBI).

Panda Trust – Scheme I — through its trustee Vistra ITCL — will offload some 430,000 shares as part of the secondary sale too.

US-based Yatra Online Inc said the IPO of its Indian unit will help it access more domestic investors who are currently excluded from investing in the parent company due to regulatory constraints. It will also help raise future capital at increased valuations from a larger pool of analysts.

The company said it will utilise the net proceeds from the IPO for strategic investments, acquisitions, invest in customer acquisition, and undertake other growth initiatives.

IIFL Securities, SBI Capital Markets, and DAM Capital Advisors are the lead book-runners for the IPO.

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