IPO Update: Yatra Online Ltd Files IPO Papers to Raise Rs. 750 Crore

IPO Update: Yatra Online Ltd Files IPO Papers to Raise Rs. 750 Crore Yatra Online Ltd announced on Monday that it has filed a draft prospectus with market regulator SEBI for its initial public offering, which includes a fresh issue of shares worth up to 750 crore. Yatra also announced the appointments of non-executive independent directors Rohit Bhasin, Deepa Misra Harris, and former bureaucrat Ajay Narayan Jha. "The company has also filed its Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO) consisting of a fresh issue of up to 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. Yatra Online Ltd Whole-time Director & CEO Dhruv Shringi commented on the IPO plans, saying, "The proposed equity offering and listing will help us accelerate our organic growth plans and provide additional capital for exploring inorganic growth opportunities as the travel and tourism industry recovers on the back of easing COVID restrictions." He stated that the three independent directors will be an invaluable asset to the company "given their experience and passion." "As the industry continues to grow, we are excited to embark on our new journey with them as part of our team and the DHRP filing in India," Shringi said. Bhasin, a chartered accountant, is also an independent director and chairman of the audit committee of Star Health and Allied Insurance Ltd, as well as an independent director and chairman of the nomination and remuneration committee of Tanla Solutions Ltd, according to the company. According to the statement, Harris currently serves as an independent director on the boards of PVR Ltd, Jubilant Foodworks Ltd, ADF Foods Ltd, TCPL Packaging Ltd, Prozone Intu Properties Ltd, and Taj Safaris.