Yatra Online Limited, ("Yatra" or the "Company"), a leading, full-service online travel company in India and one of the most well-recognized travel brands in India, has received the final observation letter dated November 17, 2022 (Observation Letter) from the Securities and Exchange Board of India (SEBI) in connection with the draft red herring prospectus dated March 24, 2022 (DRHP).
Yatra India had filed the DRHP with SEBI through which Yatra India has proposed an initial public offering (IPO) of its equity shares comprising a fresh issue of up to ₹7,500 million by Yatra India ("fresh issue" or "primary sale") and an offer for sale of up to 9,328,358 equity shares.
The proposed IPO can open for subscription within a period of 12 (twelve) months from the date of issuance of the Observation Letter.
Yatra Online, Inc., a Cayman Islands limited company with shares listed in the United States of America on NASDAQ Capital Market under the symbol "YTRA", is the holding company of the Promoters, THCL and Asia Consolidated DMC Pte. Ltd.". The company is the leading corporate travel service provider in India with approximately 700 large corporate customers and over 46,000 registered SME customers and the second largest consumer online travel company (OTC) in the country in terms of gross booking revenue for Fiscal 2020 (Source: CRISIL Report).
Yatra's market strategy spans the entire value chain of travel and hospitality covering B2C (business to consumer) and B2B (business to business which includes business to enterprise and business to agents). The combination of B2C and B2B channels enable them to target India's most frequent and high spending travellers, namely, educated urban consumers, in a cost-effective manner.
Yatra has the largest number of hotel and accommodation tie-ups amongst key OTA players of over 2,094,000 tie-ups, as on October 29, 2021 (Source: CRISIL Report). Company operate a proprietary eCash loyalty program that enables travelers that book through the platform to accumulate and redeem points, where applicable. Yatra has six million eCash registered users on their platform.
SBI Capital Markets Limited, DAM Capital Advisors Limited and IIFL Securities Limited are the book running lead managers for the issue, while Link Intime is the registrar.