Yatra Online, the country's third-largest online travel company, has mopped up Rs 348.75 crore from 33 anchor investors on September 14, a day before its initial public offering (IPO) opens.
Marquee investors that participated in the anchor book included Morgan Stanley, Goldman Sachs, Societe Generale, BNP Paribas Arbitrage, Elara India Opportunities Fund, Whiteoak Capital, and Quantum-State Investment Fund.
ICICI Prudential Mutual Fund, Mirae Asset, Tata Mutual Fund, Bandhan Mutual Fund, Max Life Insurance Company, Bajaj Allianz Life Insurance Company, and Edelweiss Trusteeship also invested in the company via the anchor book.
ALSO READ: Yatra Online to float public issue on September 15. Here's all you need to know
The corporate travel company in its filing to exchanges said it has finalised allocation of 2,45,59,860 equity shares to anchor investors at a price of Rs 142 per share.
Out of the total allocation to anchor investors, 1,48,59,390 equity shares were allocated to six domestic mutual funds through a total of 19 schemes, it added.
Yatra Online will launch its Rs 775-crore initial public offering on September 15, comprising a fresh issuance of shares worth Rs 602 crore and an offer-for-sale (OFS) of 1,21,83,099 equity shares worth Rs 173 crore, at the upper price band, by the promoter and an investor.
Also read: Entero Healthcare Solutions files for IPO, fresh issue component at Rs 1,000 crore
Promoter THCL Travel Holding Cyprus, and investor Pandara Trust – SCHEME I (represented by its trustee Vistra ITCL (India) will be selling shareholders in the OFS. Amongst them, Pandara Trust intends to exit the company by selling its entire 4,31,360 shares through the OFS.
The price band for the offer, which closes on September 20, has been fixed at Rs 135-142 per share.
The strategic investments, acquisitions and inorganic growth at a cost of Rs 150 crore, and investment in customer acquisition and retention, technology, and other organic growth initiatives, estimated at a cumulative sum of Rs 392 crore will be funded through the net fresh issue proceeds. The company will use the remaining funds for general corporate purposes.
Yatra Online is the India's largest corporate travel services provider in terms of the number of corporate clients and the third largest online travel company in India among key OTA (online travel agency) players in terms of gross booking revenue and operating revenue, for FY23.
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