Yatra Online Day 1: Issue Subscribed 11%, Retail Portion Clocks 55% Bids

On the first day of the bidding process, 11% of Yatra Online Limited's Initial Public Offering was subscribed. According to information available on the stock markets, the offering attracted bids for 33,64,725 shares as opposed to the 3,09,42,356 equity shares that were offered, at a price range of Rs 135-142. The retail portion received 55% of the subscriptions, non-institutional investors 3%, and qualified institutional buyers 0%. The subscription period for this issue started on Friday, September 15, 2023, and it will end on Wednesday, September 20, 2023.

Yatra Online Ltd received Rs 348.75 crore from anchor investors a day before the commencement of the issue. ICICI Prudential, Mirae Assets, Tata Funds, Bandhan Funds, Max Life Insurance Funds, Bajaj Allianz Life Insurance company Limited, Massachusetts Institute of Technology, Edelweiss Trusteeship fund, Morgan Stanley Asia (Singapore) Pte, Elara India, Whiteoak Capital Fund, Goldman Sachs (Singapore) Pte, BOFA Securities Europe SA, Bajaj Allianz General Insurance company Limited, Quantum State Investment fund, Societe General, BNP Paribas are the foreign investors and domestic institutions who participated in the anchor.

The book-running lead managers are SBI Capital Markets Limited, DAM Capital Advisors Limited, and IIFL Securities Limited. The shares of Yatra Online are proposed to be listed on BSE and NSE platforms. Yatra Online's initial public offering (IPO) consists of a fresh share issue for Rs 602 crore and an offer for sale (OFS) of up to 12.2 million shares by a promoter and existing investor. A fresh issue of shares worth Rs 602 crore and an offer-for-sale (OFS) of 1,21,83,099 equity shares worth Rs 173 crore by the promoter and an investor makeup Yatra Online's Rs 775 crore public offering. While Pandara Trust - SCHEME I, backed by its trustee Vistra ITCL (India), intends to sell all 4,31,360 of its equity shares through the OFS, promoter THCL Travel Holding Cyprus will sell 17,51,739 as a part of OFS.

Yatra's IPO lot size is 105 equity shares, with subsequent lots being sold in multiples of 105 equity shares. On September 29, the shares will begin trading on the Indian stock exchanges. The IPO reservation has been established at a minimum of 75% for Qualified Institutional Buyers (QIBs), a maximum of 15% for Non-Institutional Investors (NIIS), and 10% for Retail Investors.

The company's consolidated revenue from operations for the fiscal year ending March 31, 2023 bumped to Rs 3,801.60 million from Rs 1,980.66 million in the prior fiscal 2022, primarily as a result of a recovery in both its consumer and corporate travel businesses due to the dropping impact of COVID-19. The Company made a profit of Rs 76.32 million for the fiscal year 2023 as opposed to a loss of Rs 307.86 million for the previous fiscal year.