Yatra IPO: Issue Subscribed 1.61X; QIB & Retail Categories Receive 2X Bids

Online travel aggregator Yatra Online’s public issue was subscribed 1.61X on the last day of its offering on Wednesday (September 20), receiving a muted response compared to the IPOs of some other new-age tech startups this year.

Yatra’s IPO received bids for 4.99 Cr shares as against a total of 3.09 Cr shares on offer, with retail investors leading the show.

The retail investors’ portion was subscribed 2.11X and received around 1.2 Cr bids. A total of 56.77 Lakh were on offer for this category.

Retail investors had placed bids for 76.24 Lakh shares at the end of Day 2 of Yatra’s public offering.

On the other hand, the portion reserved for qualified institutional buyers (QIBs) received a little over 2X subscription. It received bids for 3.44 Cr shares as against 1.67 Cr shares allocated for the category.

The non-institutional investors (NIIs) category received the lowest number of bids and remained undersubscribed. Of the 85.16 Lakh shares reserved for the category, it received bids for 35.41 shares.

Yatra’s IPO, which opened for subscription last Friday, comprised a fresh issue of shares aggregating to INR 602 Cr and an offer-for-sale (OFS) element of 1.21 Cr equity shares. 

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

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

Yatra’s public issue received the lowest subscription when compared to other new-age tech startups which launched their IPOs this year.

Zaggle, whose IPO opened a day before Yatra’s, saw its issue oversubscribed over 12X on the last day of its offering.

Meanwhile, ideaForge’s public issue was oversubscribed 106X before the drone startup listed at a 94% premium on the Indian bourses.

Yudiz Solutions’ issue received 4.75X subscription before listing on the NSE SME platform.