The Securities and Exchange Board of India (SEBI) has approved Yatra Online, the Indian arm of the US-listed online travel aggregator (OTA) Yatra Online, Inc, for its Rs 750 crore initial public offering.

Yatra Online received the market regulator’s final observation letter on November 17, nearly eight months after filing its draught red herring prospectus.

The initial public offering (IPO) will consist of a new issue of equity shares worth Rs 750 Cr as well as an offer for sale (OFS) of 9,328,358 equity shares.

The startup will offer up to 88,96,998 equity shares through Travel Holding Cyprus (THCL), a subsidiary of Yatra Online, according to news in March.

Yatra hopes to gain access to Indian capital markets and expand its shareholder base by listing. The OTA is also considering listing on Indian exchanges in order to raise capital at a high valuation and increase its visibility among equity analysts.

Yatra India is a travel technology platform that allows users to compare and book domestic and international air tickets. It also provides bookings for buses, trains, and taxis, as well as other ancillary services within the country.

The platform hosts over 93,500 hotels in 1,400 cities and towns across the country. It claims to serve 700 large corporate clients and over 46,000 registered small and medium enterprise (SME) clients.

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