Skift Take
Is this the beginning of a wave of IPO activity among Indian travel companies? Yatra is set to become the second online travel agency to be listed on the Indian stock exchanges, following EaseMyTrip. Both Ixigo and Oyo are also poised for potential listings, indicating a growing interest in the public markets within the Indian travel sector.
India-headquartered online travel agency Yatra Online plans to launch its initial public offering (IPO) on September 15. The company, which has been listed on the Nasdaq since 2016, had filed a draft red herring prospectus on March 25 last year with the Indian regulatory body Securities and Exchange Board of India (SEBI) with a goal of raising up to $97.5 million.
Yatra's current IPO comprises a fresh issue of shares worth $73.5 million (INR 6.1 billion), lower than the earlier amount. However, the company has also secured a pre-IPO placement of around $7.5 million (INR 620 million) to one of its promoters THCL.
Indian travel companies wanting to launch the