Yatra IPO: Traveltech Startup’s Issue Subscribed 11% On Day 1

Online travel aggregator Yatra Online’s public issue saw a muted response on the first day, getting 11% subscription.

Of the 3.09 Cr shares on offer, the issue received bids for 33.65 Lakh shares by the end of Friday (September 15), with the portion reserved for retail investors seeing the highest subscription.

Of the 56.77 Lakh shares on offer for retail individual investors, bids were received for 31.34 Lakh shares (55.2%) on day 1.

On the other hand, the non-institutional investors’ (NIIs) category received 2.32 Lakh bids as against 85.16 Lakh reserved for them. 

The issue received no bids from qualified institutional buyers (QIBs) on the first day. Yatra has earmarked 1.67 Cr shares for QIBs.

The traveltech startup filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in March last year.

Its public listing comprises a fresh issue of shares amounting to INR 602 Cr and an offer-for-sale (OFS) element of 1.21 Cr equity shares. Of this, 75% is reserved for QIBs. The issue will close on September 20.

Meanwhile, 2.45 Cr shares were allocated to anchor investors from whom Yatra raised INR 348.75 Cr on Thursday.

The traveltech startup’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.

Besides Yatra, fintech startup Zaggle is also going public. Its IPO opened yesterday.

After a lull in new-age companies’ IPO in 2022 amid weak investor sentiment and rout in tech stocks, a number of startups have resumed their IPO preparations this year due to the revival in the market.

Earlier this year, shares of ideaForge listed on the bourses at a 94% premium in July this year. On the other hand, Yudiz Solutions was listed at a mere 12% premium on the NSE SME platform.

Mamaearth is also reportedly preparing to launch its IPO in November this year.