Travel service provider Jatra Online on Monday said it has submitted a draft prospectus for its initial public offering (IPO) to market regulator Securities and Exchange Board of India (SEBI), which includes a new issue with shares up to a total of Rs. 750 crores.
Jatra has also announced the appointment of Rohit Vasin, Deepa Mishra Harris and former bureaucrat Ajay Narayan Jha as non-executive independent directors.
The company has submitted its Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO) which includes a new issue up to Rs 750 crore and an offer to sell 93,28,358 equity shares including 88. THCL Travel Holding Cypress Ltd. 96,998 Share, one of its promoters, “said Jatra in a statement
Commenting on the IPO plan, Yatra Online’s full-time director and CEO Dhruv Sringi said, “The proposed equity offer and list will help accelerate our organic growth plan and provide more capital for exploring inorganic growth opportunities while reviving the travel and tourism industry.” Will be behind the relaxation of the Kovid restrictions. “
In terms of hiring three independent directors, he said, “in terms of their experience and passion” they would be an invaluable asset to the company.
“We are thrilled to start our new journey with them as part of our team and DHRP filing in India as the industry continues to grow,” said Sringi. Vasin, a chartered accountant, an independent director and chairman, also serves as the audit committee of Star Health and Allied Insurance Ltd. and an independent director and chairman of Tanla Solutions Ltd., the nomination and remuneration committee, the company said.
Harris, on the other hand, is currently an independent director on the boards of PVR, Jubilant Foodworks, ADF Foods, TCPL Packaging, Prozone Into Properties and Taj Safaris.
A former civil servant, Jha was the Union Finance Secretary and Expenditure Secretary (2017-2019) from where he retired, added.