Online travel company Yatra Online, which will open its Initial Public Offering (IPO) on Friday, raised Rs 348.75 crore from anchor investors.
According to a Moneycontrol report, 33 anchor investors, including Goldman Sachs, Morgan Stanley, BNP Paribas Arbitrage, Elara India Opportunities Fund, Tata Mutual Fund, Mirae Asset and ICICI Prudential Mutual Fund invested in the company ahead of the IPO.
The company finalised the allocation of 2,45,59,860 shares to anchor investors at Rs 142 per share. The company had fixed the price band for IPO at Rs 135-142 per equity share.
Six domestic mutual funds were allocated 1,48,59,390 equity shares, Moneycontrol reported.
The IPO will open for subscription on September 15 (Friday), and will close on September 20. Investors can bid for a minimum of 105 equity shares and in multiples of 105 equity shares thereafter.
The IPO comprises fresh issuance of equity shares worth Rs 602 crore and an Offer for Sale (OFS) of up to 12,183,099 shares.
At the upper price band of the issue, the IPO will fetch up to Rs 775 crore.
"Proceeds from the fresh issue will be utilized to the tune of Rs 150 crore for strategic investments, acquisitions, and inorganic growth.
"Another significant portion, Rs 392 crore for investment in customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes," Yatra Online CEO Dhruv Shringi had said earlier.
—With agency inputs