Yatra Online files IPO with Sebi to raise Rs 750 crore

Travel services company Yatra Online Ltd said on Monday that it has submitted a draft prospectus with market regulator Sebi for its initial public offering that includes a new share issue totaling Rs 750 crore.

Yatra also announced the appointment of Rohit Bhasin, Dipa Misra Harris and former bureaucrat Ajay Narayan Jha as independent non-executive directors.

“The company has also submitted a draft Red Herring (DRHP) prospectus for its initial public offering (IPO) which includes a new issue totaling Rs 750 crore and an offer for sale of up to 93,28,358 shares of stock, including 88,96,998,” he said. Yatra in a statement that the shares of THCL Travel Holding Cyprus Ltd. is one of the companies to promote.

Commenting on the plans for the IPO, Yatra Online Ltd full-time Director and CEO Dhruv Shringi said: “The proposed share offer and listing will help us accelerate our organic growth plans and provide additional capital to explore inorganic growth opportunities such as the travel and tourism industry. It is recovering on the back of the easing of COVID restrictions. “.

On the appointment of the three independent directors, he said, “Given their experience and passion,” they will be an invaluable asset to the company.

“We are thrilled to embark on our new journey with them as part of our team and deposit DHRP in India as the industry continues to grow,” Shringi said.

The company said that Bhasin, a chartered accountant, also serves as director, independent chairperson and audit committee at Star Health and Allied Insurance Ltd and director, independent chairperson, and the nomination and remuneration committee at Tanla Solutions Ltd.

The statement said Harris, on the other hand, is currently an independent director on the boards of PVR Ltd, Jubilant Foodworks Ltd, ADF Foods Ltd, TCPL Packaging Ltd, Prozone Intu Properties Ltd and Taj Safaris.

She added that Jha was a former civil servant, who was the Federation’s Secretary of Finance and Expense Secretary (2017-2019) as he retired from service.

(The title and image for this report may have been reformulated only by the Business Standard staff; the rest of the content is automatically generated from a shared feed.)

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