Yatra IPO: Issue Subscribed 0.31X On Day 2, Retail Category Oversubscribed

Online travel aggregator Yatra Online’s public issue continued to see a muted response on Day 2 of the IPO on Monday (September 18), getting subscribed 0.31X.

The issue continued to receive high interest from retail investors, with the portion reserved for them oversubscribed 1.34X. Retail investors placed bids for 76.24 Lakh shares as against 56.77 Lakh shares on offer.

On Day 1, the category received bids for 31.34 Lakh shares.

On the other hand, qualified institutional buyers (QIBs) placed bids for 10.67 Lakh Yatra shares on Day 2. Yatra has reserved the highest number of shares, 1.67 Cr, for this category.

The non-institutional investors’ (NIIs) category received bids for 7.75 Lakh shares as against 85.16 Lakh shares reserved for them. 

Yatra’s IPO, which was launched last week on Friday, will close on Wednesday (September 20). It comprises a fresh issue of shares worth INR 602 Cr and an offer-for-sale (OFS) element of 1.21 Cr equity shares. 

The startup raised INR 348.75 Cr from anchor investors last week by allocating 2.45 Cr shares.

Yatra’s IPO price band is set at INR 135-INR 142. On the upper price band, Yatra’s total IPO issue size stands at INR 773.82 Cr.

Meanwhile, B2B fintech SaaS startup Zaggle, whose IPO opened a day before Yatra, saw its issues oversubscribed over 12X one the last day of its offering.

Two other new-age tech startups have taken the public route so far this year. Drone startup ideaForge listed at a 94% premium to its issue price in July this year. Before listing, its public issue was oversubscribed 106X.

Yudiz Solutions also listed at over a 12% premium on the NSE SME platform last month. Its public issue was oversubscribed 4.75X.

Among other tech startups that are expected to go public this year, Mamaearth is reportedly mulling to go public in November.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.