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Yatra Online gets Sebi's nod to float IPO

The proposed IPO comprises a fresh issue of equity shares worth up to Rs 750 crore by Yatra India and an offer for sale (OFS) of up to 9,328,358 equity shares, according to the draft red herring prospectus (DRHP).

November 19, 2022 / 12:58 PM IST
Yatra Online CEO Dhruv Shringi

Yatra Online CEO Dhruv Shringi

Yatra Online Inc said its Indian subsidiary Yatra Online Ltd has received capital markets regulator Sebi’s clearance to float an initial public offering (IPO).

The proposed IPO comprises a fresh issue of equity shares worth up to Rs 750 crore by Yatra India and an offer for sale (OFS) of up to 9,328,358 equity shares, according to the draft red herring prospectus (DRHP).

As part of the OFS, THCL Travel Holdings Cyprus Ltd and Pandara Trust – Scheme I through its trustee Vistra ITCL (India) would offload shares.       Yatra Online Ltd has received the final observation letter dated November 17 from Sebi in connection with its DRHP filed in March, the Nasdaq-listed Yatra Online Inc said in a statement.

In Sebi’s parlance, receiving an observation letter implies its go ahead to float the IPO.     The proposed IPO can open for subscription within a period of 12 months from the date of issuance of the observation letter, the statement noted.