The issue comprises of a fresh issue size of Rs 602 crore and an offer for sale of upto 12,183,099 equity shares. 75% of the issue size will be available for allocation to qualified institutional bidders, 15% to non-institutional investors and 10% to retail investors.
The fresh issue size of Rs 602 crore is down from the originally envisaged issue of Rs 750 crore, and includes a pre-IPO placement of about Rs 62 crore consisting of 26,27,697 equity shares issued at a price of Rs 236 per equity share to one of its promoters THCL, by way of a rights issue.
Objects of the issue show intent to utilize Rs 150 crore for strategic investments, acquisitions and inorganic growth, Rs 392 crore is for customers acquisition and retention, technology and other organic growth initiatives besides general corporate purposes.
Yatra, has over 21 lakh hotel and accommodation tie ups as of March this year, making it the largest amongst key domestic OTAs.
It generates revenues from three main lines of business – Air Ticketing, hotels and packages and other Services.
As per the CRISIL Report in its RHP, in FY23, over 90% of its total traffic comes from direct and organic traffic which means these are visitors who land on the website through unpaid search results. In fiscal years 2023, 2022 and 2021, it generated Rs 380.16 crore, Rs 198.06 crore and Rs 125.45 crore of revenue respectively.
Owing to the recovery of the economy and travel and tourism rebounding post the pandemic, its EBITDA increased by 1128% to Rs 51.08 crore in the year ended March 31, 2023 from Rs 4.16 crore in the year ended March 31, 2022.
EBITDA profit increased by 107.30% to Rs 4.16 crore in the year ended March 31, 2022 from a loss of Rs 56.98 crore in the year ended March 31, 2021.
SBI Capital Markets, DAM Capital and IIFL Securities are the book running lead managers to the issue.
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