Shares of Yatra Online debuted on stock exchanges on Thursday with a discount of more than 10 per cent over its issue price. On NSE, Yatra Online’s stock listed at Rs 127.50, against its issue price of Rs 142. Meanwhile, on BSE, the shares listed at Rs 130, at a discount of 8.4 per cent.
By 12.50 pm, Yatra Online shares were trading at Rs 136.25 on BSE, around 5 per cent higher than its listing price, but nearly 4 per cent lower than its issue price.
The travel agency company’s, third largest in its sector in the country, market valuation in early deals stood at Rs 2,127 crore.
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The Rs 775 crore initial public offering was subscribed 1.61 times last week, and it had a fresh issue of up to Rs 602 crore. The company had an offer for sale of up to 1.21 crore equity shares.
The price range for Yatra Online’s IPO was Rs 135-142 per share.
The company has said it will utilise the proceeds from the fresh issue worth Rs 150 crore towards strategic investments, acquisitions, and inorganic growth and up to Rs 392 crore towards investment in customer acquisition and retention, technology, and other organic growth initiatives, reported PTI.