Yatra Online Limited IPO
i. Yatra Online is India’s largest corporate travel services provider in terms of number of corporate clients and the third largest online travel company in India among key OTA players in terms of gross booking revenue and operating revenue, for Fiscal Year 2023. They have largest number of hotel and accommodation tie-ups amongst key domestic OTA players of over 2,105,600 tie-ups.
ii. Yatra believe India is one of the world’s largest and fastest growing economies, with a large middle class, increasing disposable income and a rapidly growing online consumer base. India’s real GDP growth is expected to rebound to 7.2% in FY 2023 after experiencing a (5.8%) contraction in Fiscal 2021 due to the repercussions of the COVID19 pandemic. Given the size and growth dynamics of the India travel market, they have strategically focussed both on the corporate and consumer markets. We are the leading corporate travel service provider in India with 813 large corporate customers and over 49,800 registered SME customers and the third largest consumer online travel company (OTC) in the country in terms of gross booking revenue for Fiscal 2023.
ii. Their go-to-market strategy spans the entire value chain of travel and hospitality covering B2C (business to consumer) and B2B (business to business which includes business to enterprise and business to agents) The company believes that the combination of their B2C and B2B channels enable the,m to target India’s most frequent and high spending travellers, namely, educated urban consumers, in a cost-effective manner. Over 800 large corporate customers of the Company employ over 7.00 million people who along with their families form a large part of the consuming upper middle class of India. In addition, their travel agent network provides additional scale to their business by leveraging our integrated technology platform in order to aggregate consumer demand from over 29,800 travel agents in above 1,000 cities across India.
iii. Leisure and business travellers use their mobile applications, their website, www.yatra.com, and their other offerings and services to explore, research, compare prices and book a wide range of travel-related services. These services include domestic and international air ticketing on nearly all Indian and international airlines, as well as bus ticketing, rail ticketing, cab bookings and ancillary services within India. They also provide access through their platform to hotels, homestays and other accommodations, with about 105,600 hotels in 1,490 cities and towns in India.
Competitive Strengths
i. Trusted brand with a proven track record and targeted marketing strategy
ii. Large and Loyal Customer Base
iii. Our Synergistic Multi-Channel Go to Market approach for Business and Leisure Travelers
Objects of the Yatra Online Limited IPO:
Yatra Online Limited IPO Details:
Open Date: | Sep 15 2023 |
Close Date: | Sep 20 2023 |
Total Shares: | 5,45,77,465 |
Face Value: | ₹ 1 Per Equity Share |
Issue Type: | Book Built Issue IPO |
Issue Size: | 775.00 Cr. |
Lot Size: | 105 Shares |
Issue Price: | ₹ 135 to ₹142 Per Equity Share |
Listing At: | NSE,BSE |
Listing Date: | Sep 29 2023 |
Promoters And Management:
Financials of Yatra Online Limited IPO:
Particular (In Million) | Mar-21 | Mar-22 | Mar-23 |
Equity Share Capital | 110.90 | 111.89 | 114.52 |
Reserves | 1,124 | 897 | 1,581 |
Borrowings | 131 | 359 | 1,531 |
Trade Payables | 1,038 | 1,514 | 1,385 |
Other Liabilities | 3,225 | 2,596 | 2,201 |
Total Liabilities | 4,394 | 4,469 | 5,117 |
Net Block | 24 | 22 | 46 |
Right-of-use Assets | 433 | 230 | 201 |
Other Assets | 1,554 | 1,381 | 1,507 |
Total NC Assets | 2,011 | 1,632 | 1,753 |
Receivables | 975 | 1,940 | 2,875 |
Cash & Bank | 1,961 | 1,280 | 1,023 |
Other Assets | 683 | 626 | 1,161 |
Face value | 1 | 1 | 1 |
Particular (In Million) | Mar-21 | Mar-22 | Mar-23 |
Sales | 1,255 | 1,981 | 3,802 |
Service cost | 20 | 152 | 645 |
Employee Cost | 736 | 976 | 1,090 |
Marketing and sales promotion expenses | 80 | 124 | 336 |
Other Expenses | 643 | 761 | 1,340 |
Listing and related expenses | 0 | 56 | 24 |
Other Income | 182 | 207 | 173 |
EBITDA | -43 | 119 | 540 |
EBITDA Margin | -3.39% | 5.99% | 14.20% |
Depreciation | 523 | 281 | 183 |
Interest | 102 | 99 | 234 |
Profit before tax | -1,122 | -293 | 122 |
Tax | 66 | 15 | 45 |
Net profit | -1,189 | -308 | 76 |
NPM (%) | -82.76% | -14.07% | 1.92% |
Particular (In Million) | Mar-21 | Mar-22 | Mar-23 |
Cash From Operating Activity | |||
Profit From Operation | -47 | 69 | 501 |
Receivable | 1,286 | -983 | -1,082 |
Payable | 74 | 464 | 107 |
Other WC Items | -502 | -413 | -930 |
Working Capital Changes | 858 | -933 | -1,905 |
Direct Taxes | 230 | 30 | -126 |
Net Cash Inflow from Operating Activity | 1,041 | -834 | -1,531 |
Cash from Investing Activity | |||
Fixed assets purchased | -1 | -11 | -20 |
Fixed assets sold | 6 | 2 | 10 |
Investments purchased | -48 | -597 | -500 |
Acquisition of companies | -410 | 0 | 0 |
Other investing items | 242 | 522 | 344 |
Net cash inflow from investing activities | -211 | -84 | -167 |
Cash from Financing Activity | |||
Proceeds from shares | 297 | 83 | 620 |
Redemption on debenture | -8 | -5 | -32 |
Repayment of borrowings | 0 | 0 | -7 |
Intrest paid fin | -19 | 42 | -95 |
Other financing items | -206 | 81 | 898 |
Net Cash Flow | 895 | -718 | -313 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
Yatra Online Limited | 380 | 8 | 0.49 | 291.95 | 142 | 2228 |
Easy Trip Planners Ltd | 430 | 147 | 0.84 | 48.6 | 39 | 6,779 |
Lead Manager of Yatra Online Limited IPO:
Registrar of Yatra Online Limited IPO:
Company Address:
Discussion on Yatra Online Limited IPO:
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