Yatra Online IPO subscribed 21% so far on day 2; retail portion fully subscribed

18 Sep 2023 , 12:36 PM

Yatra Online stands as one of India’s prominent corporate travel service providers, delivering comprehensive travel solutions to both corporate clients and individual travelers. As of the end of the first day of its Initial Public Offering (IPO), the subscription rate was at 11%.

On the second day of the offering, the subscription rate increased to 21% by 12.20 PM. Notably, the public issue saw substantial interest in the retail category, with a subscription rate of 1.03 times, while the Non-Institutional Investors (NII) category witnessed a 7% subscription rate. The Qualified Institutional Buyers (QIBs) are yet to submit their bids.

The primary objective of Yatra Online Ltd’s maiden public offering is to raise Rs 775 crore. This comprises a fresh issuance of Rs 602 crore worth of shares and an offer for sale (OFS) of up to 1.22 crore shares, involving a promoter and an existing investor.

The price band for the Yatra Online IPO has been set at Rs 135 to Rs 142 per equity share, with a face value of Rs 1 each. The company has outlined plans for the utilization of the net proceeds generated from the offering. These funds will be directed towards strategic investments, acquisitions, and inorganic expansion efforts. 

Additionally, they will support general corporate requirements, investments in customer acquisition and retention, technology advancements, and other initiatives aimed at organic growth.