Yatra Online announced that its Indian subsidiary, Yatra Online Limited, India’s largest corporate travel services provider, will start trading on the Bombay Stock Exchange, or BSE, on September 28 post its successful IPO of $93M. Yatra Online Limited raised primary capital of INR 602 crores or $72M in its Indian IPO based on a pre-money valuation of $193M, which equates to ~$3 per YTRA share. Proceeds of the IPO will be used for: Strategic investments, acquisitions and inorganic growth; Investment in customer acquisition and retention, technology, and other organic growth initiatives and General corporate purposes; Yatra Online Inc also benefits from an additional capital of ~US$21 Million by selling shareholder THCL which flows through to the parent entity Yatra Online. Part of these proceeds will be used: To repay the MAK debt and to potentially initiate buyback of YTRA shares.
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