Yatra Online's Indian subsidiary files papers for Rs.750-Cr IPO

Online travel firm Yatra Online Inc, which is listed on the Nasdaq, has announced that its Indian subsidiary Yatra Online Ltd has filed papers with market regulator Sebi for an IPO. The issue aggregates to INR 750 crore, or approximately USD 100 million of primary proceeds and a secondary offering of up to 8,896,998 equity shares by THCL Travel Holding Cyprus Limited, a subsidiary of Yatra Online, Inc., which amounts to approximately 8% of the shares outstanding of Yatra Online Limited. The IPO will enable the company to access domestic Indian institutional and retail investors who are currently excluded from investing in Yatra Online on Nasdaq due to regulatory constraints. SBI Capital Markets, DAM Capital, and IIFL Securities are the merchant banks working on the IPO. J Sagar Associates, Indus Law, and Trilegal are the legal advisors.