Yatra Online IPO Subscribed 1.61 Times, Retail Investors Lead the Charge

20 Sep 2023 , 07:32 PM

On September 20, the closing day for subscription, Yatra Online’s public offering saw moderate interest, with a subscription rate of 1.61 times. The data, obtained from stock exchanges, reveals that investors placed bids for 4.98 crore equity shares, surpassing the offer size of 3.09 crore shares.

Retail investors showed strong support for the offering, subscribing at 2.11 times their allocated quota, which constitutes 10 percent of the total offer size. In contrast, the portion designated for qualified institutional buyers (QIB) and high net-worth individuals (HNIs), constituting 75 percent and 15 percent of the IPO size, respectively, received subscription rates of 2.05 times and 42 percent.

It’s important to note that to successfully proceed, an IPO typically requires a minimum of 90 percent subscription in the QIB category.

The leading corporate travel services firm aims to generate Rs 775 crore through its public offering at the higher end of the price band. The IPO comprises fresh shares valued at Rs 602 crore and an offer-for-sale (OFS) of shares worth Rs 173 crore, which will be sold by existing shareholders.

The offering’s price range, which was open for subscription starting from September 18, ranged from Rs 135 to Rs 142 per share. The company is set to finalize the allotment basis for IPO shares by September 25, with shares expected to be credited to eligible investors’ demat accounts by September 27. Refunds for unsuccessful investors or unblocking of ASBA accounts will be completed by September 26, in accordance with the IPO schedule.

Trading in Yatra Online’s equity shares will officially commence on both the BSE and NSE on September 29.