Yatra Online, an online travel company, announced that it has raised Rs 348.75 crore from anchor investors ahead of its Rs 775 crore initial public offering (IPO).
A circular uploaded on the BSE website states that the company has allocated 2.49 crore equity shares to 33 entities at Rs 142 each.
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.
The IPO will bring up to Rs 775 crore at the upper end of the price band.
The IPO includes an offer for sale (OFS) of up to 1,21,83,099 shares 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 of the proceeds from the fresh issue would be put toward strategic investments, acquisitions, and inorganic development, and up to Rs 392 crore will be used for investments in customer acquisition and retention, technology, and other organic growth initiatives.
Yatra Online Ltd. offers corporate travel services and ranks third among the major online travel businesses in the country in terms of gross booking revenue and operating revenue.
SBI Capital Markets Ltd, DAM Capital Advisors Ltd and IIFL Securities Ltd are the book-running lead managers to the IPO.
The shares of the company will be listed on the BSE and NSE.
