Yatra Online IPO Closes Today: Check Latest GMP, Subscription Status, Allotment Date, And Other Details Here

The initial public offering (IPO) of Yatra Online continued to receive tepid response from investors even on the last day of bidding on September 20. The Rs 775-crore IPO opened for subscription on September 15. According to the subscription data available with exchanges, the issue has been subscribed 96% with bids for 2.97 crore equity shares compared to an offer size of 3.09 crore shares. So far, the issue has received decent support from retail investors, buying 1.89 times the allotted quota, constituting 10% of the offer size.

The online travel agency reserved 75% of the IPO size for qualified institutional buyers (QIB), 15% for high-net-worth individuals, and 10% for retail investors. The portion set aside for QIBs and high net-worth individuals was subscribed 1.02 times and 15%.

The IPO of any company needs to get at least a 90% subscription in the QIB category for any issue to sweep through. In the last two days of bidding the offer was subscribed 31%. The price range for the offer has been fixed between Rs 135 to Rs 142 per share. At the upper end of the price band, the IPO is expected to fetch up to Rs 775 crore.

According to analysts, the lukewarm response received by Yatra Online IPO is attributed to the aggressive pricing of the issue.

At the upper price band, on the post-issue basis, the IPO of Yatra Online is valued at 288.2x FY23 P/E (price-to-earnings) and 5.9x FY23 P/S (price-to-sales).

At the higher price band, the company intends to raise Rs 775 crore from the public issue. The IPO comprises fresh shares worth Rs 602 crore, and an offer-for-sale (OFS) of shares worth Rs 173 crore by selling shareholders.

Ahead of the IPO launch, the corporate travel services company mobilized Rs 348.75 crore from anchor investors on September 14.

Yatra Online IPO GMP today

According to market observers, Yatra Online IPO GMP today is Rs 0, indicating that the IPO shares were trading at par with their issue price of Rs 142 with zero premium or discount in the grey market today.

Important Dates:

The company is expected to finalize the basis of allotment of IPO shares by September 25. The shares are likely to be credited to the demat accounts of eligible investors by September 27.

Yatra Online IPO shares are likely to commence trading on the BSE and NSE from September 29.