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The initial public offer of travel company Yatra Online was subscribed 1.61 times last week

Yatra online shares drop over 10% on debut trade

<h2>The initial public offer of travel company Yatra Online was subscribed 1.61 times last week</h2>

Yatra Online shares closed with a more than 4% discount compared to their issue price of Rs 142. The stock's debut on the BSE began at Rs 130, marking an 8.45% decline from the issue price. Throughout the day, it continued to fall, eventually ending at Rs 135.95, reflecting a decrease of 4.26%.
On the NSE, Yatra Online shares started trading at Rs 127.50, experiencing a 10.21% drop, and concluded at Rs 136 per share, down 4.22%.
The company's market valuation settled at Rs 2,133.28 crore. In terms of trading volume, 7.43 lakh shares were traded on the BSE, and over 1 crore shares exchanged hands on the NSE during the day.
In the broader equity market, the 30-share BSE Sensex fell by 610.37 points or 0.92% to close at 65,508.32, while the Nifty declined by 192.90 points or 0.98% to end at 19,523.55.
Yatra Online's initial public offering (IPO) was oversubscribed 1.61 times. The IPO comprised a fresh issue of up to Rs 602 crore and an offer-for-sale of up to 1.21 crore equity shares, with an offer price range of Rs 135-142 per share.
The proceeds from the fresh issue, amounting to up to Rs 150 crore, will be allocated to strategic investments, acquisitions, and inorganic growth. An additional Rs 392 crore will be used for customer acquisition and retention, technology enhancements, and other organic growth initiatives.
Yatra Online Ltd holds a prominent position as a corporate travel services provider, boasting a substantial corporate client base. It ranks as the third-largest online travel company in India in terms of gross booking revenue and operating revenue among key online travel players.

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