INSUBCONTINENT EXCLUSIVE:
Authors: JordanNEW DELHI: Yatra Online, India’s second-largest online travel operator, has filed a shelf registration statement with the
US Securities and Exchange Commission (SEC), stating its intention to raise $100 million over a three year period
In the statement, the company said, “From time to time, we may offer up to $100,000,000 of any combination of the securities described in
this prospectus, either individually or in units.” The company may sell ordinary shares, preference shares, debt securities warrants and
The latest shelf registration statement comes a little over year after the Gurgaon-based, Nasdaq-listed online travel operator filed an
offer for sale of shares with US SEC, in January last year, to raise more than $60 million, a month after it completed its reverse merger,
and began trading on the tech-dominated bourse
At the time, the selling shareholders included multiple investment vehicles controlled by Nathan Leight, the chairman of Terrapin 3
Acquisition Corporation (TRTL), a special purpose acquisition firm formed to effect such reverse mergers, and thereby easing the way for a
backdoor public market listing
In December 2016, ET had reported that Yatra, which trades under the symbol YTRA, had completed its merger, making it the second online
travel venture to make its debut on Nasdaq, almost seven years after larger peer MakeMyTrip went public in the US.
This also comes nine
months after Yatra acquired corporate travel services provider Air Travel Bureau (ATB) in an estimated cash-and debt deal estimated at $22.5
Yatra Online Inc posted a 40% jump in third quarter revenue, but also reported a wider adjusted operating loss for the three-month period
ended December 31.
The company reported adjusted operating loss of Rs 57.37 crore for the third quarter of fiscal 2017, up from adjusted
operating loss of Rs 26.77 crore in the year ago period.
Profit for the three months ended December 31 came in at Rs 23.23 crore, or Rs 6.38
a share on a diluted basis, compared to loss of Rs 461.39 crore, or Rs 198.23 per share on a diluted basis, in the year ago period.
“We
delivered yet another solid quarter of results with revenue less service cost growth at 45.6% year-over-year
Our multi-channel approach and the resultant symbiotic relationship between our corporate and consumer direct businesses continues to
deliver well for us,” Yatra Chief Executive Dhruv Shringi said in a statement
The results for the third quarter also included the results for ATB
As of December 31, Yatra reported cash and cash equivalents and term deposits of Rs 385.52 crore, compared to Rs 456.11 crore a year ago
The Yatra Online stock was trading almost flat $7.64, in mid-morning trade, Friday on Nasdaq
