The allotment for the initial public offer (IPO) of travel service provider Yatra Online is likely to be finalised today, September 25. Investors can check their allotment status on the issue's registrar Link Intime India's website as well as on BSE.
The ₹775 crore IPO was open for subscription between September 15 and September 20 at a price band in the range of ₹135-142 per share.
The issue was overall subscribed to 1.66 times. It received bids for 5.45 crore equity shares as against 4.98 crore shares on the offer. The portion for retail investors was booked the most, 2.19 times. Meanwhile, the qualified institutional bidders (QIBs) quota was subscribed to 2.10 times but the non-institutional investors' category was subscribed to just 51 percent during the three-day bidding process.
Yatra Online shares are likely to be listed on the bourses on September 29.
Here's how you can check the allotment status
1) Go to the website.
2) Select ‘Equity’ and then from the dropdown, select the issue name.
3) Enter your application number and PAN card number.
4) Click on the "Search" button.
In a similar way, you can also check on its registrar's website.
1) Go to the website of Link Intime.
2) Click on ‘Company Selection’ and then select the IPO name.
3) Now, enter your PAN, application number, DP / Client ID, or account number / IFSC.
4) Click on ‘Search’.
The status will only appear after allotment if the details are entered correctly. Bidders who could not get allotment in the IPO may see the initialisation of refunds on Tuesday, September 26. Others, who would be allotted shares, may see the credit of shares in the Demat accounts by Wednesday, September 27.
The IPO comprises of a fresh issuance of 4.23 crore shares aggregating up to ₹602 crore and an offer for sale (OFS) of up to 1.22 crore shares by a promoter and existing investor worth ₹173 crore. Under the OFS, promoter THCL Travel Holding will sell 1.17 crore shares and investor Pandara Trust will offload 4.31 lakh units.
The company intends to use the net proceeds from the offer to fund strategic investments, acquisitions, and inorganic expansion, as well as general corporate purposes, investments in customer acquisition and retention, technology, and other organic growth activities.
About 75 percent of the offer was set aside for qualified institutional buyers, 15 percent reserved for non-institutional investors, and 10 percent for retail investors.
Incorporated in 2005, Yatra Online is India’s leading corporate travel services provider in terms of the number of corporate clients and the third largest online travel company in India. It is a one-stop destination for travel information, pricing, bookings, and more. The company offers various services, including domestic and international air ticketing, bus and rail ticketing, cab bookings, hotel reservations, and ancillary services. Easy Trip Planners is the only listed peer of Yatra with a P/E ratio of 56.53.
For the year ended March 2023, the company clocked revenue growth of 81 percent to ₹397 crore versus ₹198 crore in the year-ago period. Meanwhile, its profit came in at ₹7.6 crore as against a loss of ₹30.7 crore a year ago.
Most brokerages were bullish on the stock given the scope for business improvement, industry tailwinds, brand name, and expansion of the EBITDA margin.
Yatra online GMP today
Ahead of the listing, the company's shares in the grey market are trading at a zero premium, indicating a flat listing, the same as the issue price of ₹142.
However, one must note that the grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.