Reported By: Mohammad Haris
Last Updated: September 20, 2023, 12:52 IST
Yatra Online IPO Day 3: The initial public offering of travel company Yatra Online has been subscribed 44 per cent so far on the final day of bidding on Wednesday, September 20. The Rs 775-crore IPO, which opened on September 15, received bids for 1,36,37,820 shares as against 3,09,42,356 shares on offer, according to NSE data till 12.30 pm.
The category for retail individual investors (RIIs) was subscribed 97 per cent while the non-institutional investors category received bids for just 5 per cent of the quota, and the qualified institutional buyers (QIBs) portion was subscribed 46 per cent.
On the second day of bidding on Monday, the IPO received a 30 per cent subscription.
Yatra Online IPO GMP
According to market observers, the grey market premium of Yatra Online remains zero. It means the grey market is expecting no listing gain from the public issue. Importantly, GMP of unlisted shares keep changing based on the sentiments in the market.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Yatra Online IPO
The initial public offer has a fresh issue of up to Rs 602 crore and an offer for sale of up to 1,21,83,099 equity shares. The price range for the offer is Rs 135-142 a share. At the upper end of the price band, the IPO will fetch up to Rs 775 crore.
Yatra Online on Thursday mobilised Rs 348.75 crore from anchor investors.
The proceeds from the fresh issue worth up to Rs 150 crore will be utilised towards strategic investments, acquisitions and inorganic growth and up to Rs 392 crore towards investment in customer acquisition and retention, technology, and other organic growth initiatives.
Yatra Online Ltd is a corporate travel services provider in terms of the number of corporate clients and the third largest online travel company in the country among key online travel players in terms of gross booking revenue and operating revenue. The shares of the company will be listed on the BSE and the NSE.
SBI Capital Markets, DAM Capital Advisors and IIFL Securities are the managers of the offer.