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India’s third-largest online travel agency (OTA), Yatra Online, is preparing for its stock market launch on Thursday, September 28, 2023. This comes after the firm managed to raise Rs 775 crore from primary markets in a climate of challenging market conditions and waning IPO interest.
The subscription rate for the firm’s initial public offering (IPO) was recorded at 1.7 times – a figure significantly lower than those seen in most current IPOs. This lukewarm response has led analysts to adjust their performance forecasts downwards.
Astha Jain from Hem Securities and Prathamesh Masdekar from StoxBox, despite the less-than-stellar IPO subscription rate, have endorsed long-term investment in Yatra Online. Their endorsement is based on the strength of Yatra Online’s brand and its historical success, particularly in corporate travel services and significant hotel partnerships.
The forthcoming stock market debut of Yatra Online underscores the company’s robust position in India’s online travel industry, despite the challenging conditions that have marked its journey to this point.
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