Journey service supplier Yatra On-line on Monday mentioned it has filed a draft prospectus with markets regulator Securities and Trade Board of India (SEBI) for its Preliminary Public Providing (IPO) that features a contemporary concern of shares aggregating as much as Rs. 750 crore.
Yatra additionally introduced the appointments of Rohit Bhasin, Deepa Misra Harris and former bureaucrat Ajay Narayan Jha as non-executive impartial administrators.
“The corporate has additionally filed its Draft Purple Herring Prospectus (DRHP) for an Preliminary Public Providing (IPO) comprising a contemporary concern aggregating as much as Rs. 750 crore and a proposal on the market of as much as 93,28,358 fairness shares, together with 88,96,998 fairness shares by THCL Journey Holding Cyprus Ltd, certainly one of its promoters,” Yatra mentioned in an announcement.
Commenting on the IPO plans, Yatra On-line whole-time director and CEO Dhruv Shringi mentioned, “The proposed fairness providing and the itemizing will assist us speed up our natural development plans and supply additional capital for exploring inorganic development alternatives because the journey and tourism trade recovers on the again of easing Covid restrictions”.
On the appointment of the three impartial administrators, he mentioned, “Given their expertise and fervour” they are going to be a useful asset to the corporate.
“We’re thrilled to embark on our new journey with them as a part of our workforce and the DHRP submitting in India because the trade continues to develop,” Shringi mentioned. Bhasin, a chartered accountant, additionally serves as an impartial director and chairman, audit committee on Star Well being and Allied Insurance coverage Ltd and an impartial director and chairman, nomination and remuneration committee of Tanla Options Ltd, the corporate mentioned.
Harris, however, is at present an impartial director on the boards of PVR, Jubilant Foodworks, ADF Meals, TCPL Packaging, Prozone Intu Properties and Taj Safaris, the assertion mentioned.
Former civil servant, Jha was Union Finance Secretary and Expenditure Secretary (2017-2019) from the place he retired from service, it added.
