Yatra Online files preliminary papers for IPO with SEBI

If you thought that digital IPOs are showing signs of ennui and boredom, think again. Most digital companies continue to be interested in an India listing, notwithstanding the price damage seen in companies like Paytm, CarTrade and Policybazaar post listing.

In all these cases, the price damage has been huge with Paytm alone giving up close to 75% from the peak levels. Amidst this chaos, Yatra Online has filed papers with SEBI for its IPO.

Yatra Online Ltd filed its draft red herring prospectus (DRHP) with SEBI for its proposed initial public offering that will comprise of a fresh issue and an offer for sale (OFS). Yatra Online is a subsidiary of Yatra.com, which his already a NASDAQ listed company.

The company will use the capital to bank roll its organic and inorganic growth plans, apart from giving stock market exit to early investors in the company.

As per the Draft Red Herring Prospectus (DRHP) filed by the issuer, the IPO of Yatra Online will comprise of a fresh issue aggregating to Rs.750 crore and an offer for sale (OFS) of up to 93,28,358 equity shares, whose value will be known only after the price band is fixed.

Out of the 93.28 lakh shares on offer, nearly 88.97 lakh share or 95.4% of the OFS portion will represent shares sold by THCL Travel Holding Cyprus, one of the promoters of Yatra.

As is common practice, Yatra Online has also spruced its board ahead of the IPO. It announced the appointment of Rohit Bhasin, Deepa Misra Harris and former bureaucrat Ajay Narayan Jha as non-executive independent directors.

While Bhasin is a chartered accountant and on the board of Star Health, Deepa Misra is on the bords of several FMCG companies like Jubilant, ADF Foods as well as multiplex giant, PVR.
 

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