Leading travel services company Yatra Online Ltd has filed draft papers with market regulator Sebi for an initial public offering (IPO) that includes a new issue of shares worth up to Rs 750 crore.
The initial public offering (IPO) will also have an offer for sale (OFS) of up to 93,28,358 shares of stock.
According to a draft Red Herring Prospectus (DRHP), the company plans to leverage the net proceeds of the new issuance for strategic investments, acquisitions, inorganic growth, investment in customer acquisition and other organic growth initiatives.
The proceeds will also be used for general corporate purposes.
Yatra Online Inc, the parent company of Yatra Online Ltd, is listed on the Nasdaq Stock Exchange.
OFS will include the sale of up to 88,96,998 shares of THCL Travel Holdings Cyprus Ltd shares and up to 4,31,360 shares of Pandara Trust Scheme I shares through its trustee Vistra ITCL (India) Limited.
Also, the company may consider an additional issue of equity shares, including a private placement totaling Rs 145 crore. In such a case, the amount of the new version will decrease.
SBI Capital Markets Ltd, DAM Capital Advisors Ltd and IIFL Securities Ltd are the lead underwriters for this issue.
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