Price Band and Subscription Window
Yatra Online’s initial public offering (IPO) is now open for subscription as of Friday, September 15, 2023. The company has set the price band for each equity share with a face value of ₹1 between ₹135 and ₹142. The subscription window will remain open until Wednesday, September 20, 2023. A minimum bid of 105 shares is required for participation, requiring at least an investment of ₹14,910 per lot.
Anchor Investors and Funds Raised
On Thursday, Yatra Online successfully secured ₹348 crores from anchor investors. The IPO aims to issue shares worth ₹602 crores, which includes an offer for sale (OFS) of up to 12.2 million shares by a promoter and existing investors.
Grey Market Performance
As per the latest reports, the grey market premium (GMP) for Yatra Online is ₹0, meaning the shares were trading at their issue price of ₹142 without any premium or discount. The GMP typically indicates investors’ willingness to pay over and above the issue price.
IPO Reservation and Lot Size
The company has reserved at least 75% of the shares for qualified institutional buyers (QIBs), no more than 15% for non-institutional investors (NIIs), and not more than 10% for retail investors. The lot size for the IPO is 105 equity shares and multiples thereof.
Use of Proceeds
The company plans to use the funds raised for strategic investments, acquisitions, and organic growth. This will also include general corporate purposes and customer acquisition and retention activities.
Book Running Lead Managers and Registrar
The book-running lead managers for the offer are SBI Capital Markets Limited, DAM Capital Advisors Limited, and IIFL Securities Limited. Link Intime India Private Limited serves as the offer’s registrar.
Analysts’ Review
According to brokerage house BP Equities Private Limited, Yatra Online offers a comprehensive range of travel-related products and services. The company fulfils domestic and international travel needs, providing customers with extensive tools and information for planning, reserving, and purchasing travel-related goods and services.
| Information | Details |
|---|---|
| IPO Dates | Sept 15, 2023 – Sept 20, 2023 |
| Price Band | ₹135 to ₹142 |
| Minimum Lot Size | 105 Shares |
| Funds Raised from Anchors | ₹348 Crores |
| Total IPO Size | ₹602 Crores |
| Lead Managers | SBI Capital Markets, DAM Capital Advisors, IIFL Securities |
| Registrar | Link Intime India Private Limited |
