new Delhi. There is good news for the people investing in the stock market. Like last year, this year is also going to be very special for investors earning through Initial Public Offering (IPO). One after the other many companies are bringing their IPO. Now in this episode, Yatra Online Limited, the Indian subsidiary of online travel company Yatra Online Inc., is also preparing to bring an IPO. The company has submitted documents for the IPO with the market regulator Securities and Exchange Board of India (SEBI). It is worth noting that Yatra Online Inc. is listed on the stock exchange Nasdaq based in New York, USA.
Fresh shares worth Rs 750 crore will be issued
The company said that in the proposed IPO, fresh shares worth Rs 750 crore ($ 100 million) will be issued and about 8,896,998 equity shares will be put up for sale on behalf of THCL Travel Holding Cyprus Limited, a subsidiary of Yatra Online Inc. THCL holds about 8 per cent stake in Yatra Online Ltd.
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Yatra was listed in the US stock market in the year 2016
Yatra Online was listed in the US stock market in the year 2016. Dhruv Shringi, Chief Executive Officer of the company said, “Over the last 15 years, our business has grown to become one of the leading online travel agencies in India. The Indian travel industry has the potential to grow further and the growth in tourism infrastructure, increased spending habits of people on travel and ever-increasing business travel is expected to help the industry.”
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Increase access to retail investors
The company expects that the launch of the IPO of its subsidiary Yatra Online Limited will give the company access to domestic institutional and retail investors in India, who are currently unable to invest in its Nasdaq-listed stocks due to regulatory constraints.
Tags: business news in hindi, IPO
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