Yatra says Indian subsidiary IPO successfully closed

Yatra Online announced that its Indian subsidiary, Yatra Online Limited, has successfully closed its Indian Initial Public Offering will full subscription of $93M. The company says the IPO “will be beneficial on multiple fronts as it.” The deal “significantly strengthens Yatra’s balance sheet not only at the India operating level but also adds ~US$ 21M in cash to Yatra Online Inc., which can potentially be used for share buybacks,” Yatra said in a statement. SBI Capital Markets Limited, DAM Capital Advisors Limited and IIFL Securities Limited are the book running lead managers and Link Intime India Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed and commence trading on BSE and NSE on September 27.