Yatra Online Files for IPO to Raise Rs. 750 Crore

Yatra also announced the appointment of three new non-executive independent directors.

By Press Trust of India | Updated: 28 March 2022 18:46 IST

Highlights

The IPO will see fresh issue of shares aggregating up to Rs. 750 crore
The IPO will have an offer for sale of up to 93,28,358 equity shares
Deepa Misra Harris is now an independent director on the boards of PVR

Yatra Online has filed its Draft Red Herring Prospectus (DRHP) for an IPO

Photo Credit: Yatra

Travel service provider Yatra Online on Monday said it has filed a draft prospectus with markets regulator Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO) that includes a fresh issue of shares aggregating up to Rs. 750 crore.

Yatra also announced the appointments of Rohit Bhasin, Deepa Misra Harris and former bureaucrat Ajay Narayan Jha as non-executive independent directors.

"The company has also filed its Draft Red Herring Prospectus (DRHP) for an Initial Public Offering (IPO) comprising a fresh issue aggregating up to Rs. 750 crore and an offer for sale of up to 93,28,358 equity shares, including 88,96,998 equity shares by THCL Travel Holding Cyprus Ltd, one of its promoters," Yatra said in a statement.

Ola S1 Pro Electric Scooter Catches Fire, Company Assures Investigation

Commenting on the IPO plans, Yatra Online whole-time director and CEO Dhruv Shringi said, "The proposed equity offering and the listing will help us accelerate our organic growth plans and provide further capital for exploring inorganic growth opportunities as the travel and tourism industry recovers on the back of easing Covid restrictions".

On the appointment of the three independent directors, he said, "Given their experience and passion" they will be an invaluable asset to the company.

"We are thrilled to embark on our new journey with them as part of our team and the DHRP filing in India as the industry continues to grow," Shringi said. Bhasin, a chartered accountant, also serves as an independent director and chairman, audit committee on Star Health and Allied Insurance Ltd and an independent director and chairman, nomination and remuneration committee of Tanla Solutions Ltd, the company said.

Jio Brings Rs. 555 Prepaid Plan With Disney+ Hotstar Mobile Subscription

Harris, on the other hand, is currently an independent director on the boards of PVR, Jubilant Foodworks, ADF Foods, TCPL Packaging, Prozone Intu Properties and Taj Safaris, the statement said.

Former civil servant, Jha was Union Finance Secretary and Expenditure Secretary (2017-2019) from where he retired from service, it added.

Asus India's Arnold Su joins this week's Orbital, the Gadgets 360 podcast, to talk about how the PC maker is planning to grow its presence in the country. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.