Yatra Online's Indian Arm Takes A Stock Market Leap: A Glimpse At The Upcoming BSE Debut
Portfolio Pulse from Akanksha Bakshi
Yatra Online, Inc.'s Indian subsidiary, Yatra Online Limited, is set to commence trading on the Bombay Stock Exchange on September 28, 2023, after a successful IPO of $93 million. The parent company will retain about 65% ownership in the subsidiary. The IPO proceeds will be used for strategic investments, acquisitions, customer acquisition and retention, technology, and other growth initiatives. Yatra Online also benefits from an additional capital of ~$21 million by selling shareholder THCL. YTRA shares are trading higher by 7.34% at $2.34.
September 27, 2023 | 2:08 pm
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POSITIVE IMPACT
Yatra Online's successful IPO and the upcoming trading of its subsidiary on the BSE could boost investor confidence, reflected in the 7.34% rise in YTRA shares.
The successful IPO of Yatra Online's subsidiary and its upcoming trading on the BSE are positive developments that could attract more investors, leading to a rise in YTRA's share price. The parent company's retention of 65% ownership in the subsidiary also indicates its confidence in the subsidiary's potential, which could further boost investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100