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'Strong tailwinds make it the right time to list Yatra Online'
Mint Mumbai
|September 15, 2023
As online travel agency Yatra Online Ltd’s IPO will open for subscriptions this Friday, its co-founder and CEO, Dhruv Shringi, in an exclusive conversation with Mint, said there are strong tailwinds behind the business, and this is the right time to list. The company plans to use ₹150 crore from the IPO proceeds for strategic investments, acquisitions, and inorganic growth, while ₹392 crore could be used for investments in customer acquisition and retention, technology, and organic growth initiatives.
The company’s IPO will be priced at ₹135-142 per share. Mint earlier reported that this is a big reduction from the shares it issued to a promoter THCL Travel Holding Cyprus Ltd. last year. It had shares worth ₹62.01 crore by way of a rights issue in December 2022 at an issue price of ₹236 per share. He said the current pricing is governed by market forces and investors while the earlier issuance to existing shareholders was based on the estimated fair market value.
This story is from the September 15, 2023 edition of Mint Mumbai.
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