The listing date for Yatra Online Ltd’s initial public offering (IPO) has been scheduled for September 28, 2023, which is today. The equity shares of Yatra Online Limited will be listed and admitted to trading on the Exchange in the ‘B’ Group of Securities.
Trading will commence at 10:00 AM on both BSE and NSE, with a special pre-open session beginning at around 9:45 AM. Market experts have noted that the IPO received a lukewarm response from investors, with a subscription rate of just 1.61 times.
Additionally, the overall market sentiment is not particularly strong. Despite this, experts believe that the IPO’s listing price may not disappoint allottees if the market opens on a positive note. However, in the event of a weak market opening, the debut of Yatra Online shares could be flat or at a discount.
Currently, Yatra Online shares are reportedly trading flat in the unlisted stock market, neither at a premium nor at a discount. Avinash Gorakshkar, Head of Research at Profitmart Securities, commented on the IPO’s listing price, stating that it will largely depend on the market’s opening performance.
In a bullish scenario, Yatra Online shares may debut with marginal gains on Dalal Street, while a weak or range-bound market opening could result in a par-to-discounted listing. When assigning a ‘subscribe’ rating to the public issue, Arihant Capital had anticipated listing gains for investors.
They cited the company’s unique ‘go-to-market’ approach in both B2B and B2C segments, indicative of a large addressable market. Arihant Capital also highlighted the company’s focus on high-margin corporate business, expecting strong bottom-line growth in the coming years.
The B2B business is projected to grow at a 5-year CAGR of 15%. As for the grey market premium (GMP) for Yatra Online IPO, market observers report that it is currently zero, suggesting that the grey market expects Yatra Online share prices to list around the upper price band of the public offer. The price band for the Yatra Online IPO was set by company promoters at ₹135 to ₹142 per equity share.