Yatra IPO: Online Travel Aggregator Raises INR 349 Cr From 33 Anchor Investors

SUMMARY

Yatra Online, whose public issue will open on September 15, allocated 2.45 Cr shares to anchor investors

Out of the total allocation to anchor investors, more than 60%, or 1.48 Cr shares, were allocated to six domestic mutual funds through 19 schemes

The anchor round saw participation from ICICI Prudential, Mirae Assets, Advantage Fund, Tata Multicap Fund, Edelweiss, Morgan Stanley Asia, Societe Generale, among others

Online travel aggregator (OTA) Yatra Online on Thursday (September 14) said it raised INR 348.75 Cr from 33 anchor investors at a price of INR 142 per equity share.

Yatra Online, whose public issue will open on September 15, allocated 2.45 Cr shares to anchor investors.

“The IPO Committee of the company… have finalised allocation of 2,45,59,860 equity shares, to anchor investors at anchor investor allocation price of INR 142 per equity share,” the traveltech startup said in a regulatory filing with the BSE.

Out of the total allocation to anchor investors, more than 60%, or 1.48 Cr shares, were allotted to six domestic mutual funds through 19 schemes.

The anchor round saw participation from marquee names such as ICICI Prudential Technology Fund, Mirae Asset Hybrid Equity Fund, Advantage Fund, Tata Multicap Fund, Edelweiss, Morgan Stanley Asia (Singapore), Societe Generale, Goldman Sachs (Singapore), among others.

Yatra Online’s public listing comprises a fresh issue of shares aggregating to INR 602 Cr and an offer-for-sale (OFS) element of 1.21 Cr equity shares. Of the total issue, 75% will be reserved for qualified institutional bidders, while 15% will be earmarked for non-institutional investors. Retail investors will be eligible for the remaining 10% of the total IPO size.

The price band for the IPO is INR 135-INR 142. The issue will close on September 20.

The OTA will deploy the proceeds from the IPO for strategic investments, acquisitions, and to fuel organic and inorganic growth initiatives. Yatra Online filed its draft red herring prospectus (DRHP) with markets watchdog SEBI in March 2022 and received approval for the public markets debut in November last year.

The Nasdaq-listed startup aims to list on Indian bourses to gain access to local retail investors and offer a chance for Indians to invest in the traveltech firm.

Meanwhile, B2B fintech SaaS startup Zaggle, whose IPO opened today, saw 0.19X subscription on the first day.

Yatra Online joins a growing list of Indian startups that have made public market debuts this year, after a brief lull in 2022.

Earlier this year, blockchain and IT development startup Yudiz Solutions listed on the NSE SME platform. This was preceded by drone startup ideaForge making a stellar debut on Indian stock exchanges in July at a 94% premium over the issue price.

Meanwhile, beauty ecommerce unicorn Mamaearth’s parent entity Honasa Consumer is also mulling to go public in November this year.