Yatra Online Files for IPO to Raise Rs. 750 Crore

Travel service supplier Yatra Online on Monday mentioned it has filed a draft prospectus with markets regulator Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO) that features a contemporary subject of shares aggregating as much as Rs. 750 crore.

Yatra additionally introduced the appointments of Rohit Bhasin, Deepa Misra Harris and former bureaucrat Ajay Narayan Jha as non-executive unbiased administrators.

“The company has also filed its Draft Red Herring Prospectus (DRHP) for an Initial Public Offering (IPO) comprising a fresh issue aggregating up to Rs. 750 crore and an offer for sale of up to 93,28,358 equity shares, including 88,96,998 equity shares by THCL Travel Holding Cyprus Ltd, one of its promoters,” Yatra mentioned in a press release.

Commenting on the IPO plans, Yatra Online whole-time director and CEO Dhruv Shringi mentioned, “The proposed equity offering and the listing will help us accelerate our organic growth plans and provide further capital for exploring inorganic growth opportunities as the travel and tourism industry recovers on the back of easing Covid restrictions”.

On the appointment of the three unbiased administrators, he mentioned, “Given their experience and passion” they are going to be a useful asset to the corporate.

“We are thrilled to embark on our new journey with them as part of our team and the DHRP filing in India as the industry continues to grow,” Shringi mentioned. Bhasin, a chartered accountant, additionally serves as an unbiased director and chairman, audit committee on Star Health and Allied Insurance Ltd and an unbiased director and chairman, nomination and remuneration committee of Tanla Solutions Ltd, the corporate mentioned.

Harris, alternatively, is presently an unbiased director on the boards of PVR, Jubilant Foodworks, ADF Foods, TCPL Packaging, Prozone Intu Properties and Taj Safaris, the assertion mentioned.

Former civil servant, Jha was Union Finance Secretary and Expenditure Secretary (2017-2019) from the place he retired from service, it added.