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Yatra Online eyeing to raise $50 Mn via 9 Mn Share Sale

23Jun By Lavina TolaniNo Comments

BUSINESS

Yatra Online eyeing to raise $50 Mn via 9 Mn Share Sale

Yatra Online, country's second largest travel aggregator is eyeing to raise an estimated $50 Mn (approx Rs 332.6 crores) via share sale, as revealed by its SEC filings. The company has plans to share 9 million shares, where it is also offering additional 1.35 Mn shares to underwriters, which if exercised to full will lead total proceeds to 57 Mn. As per filings with US Securities and Exchange Commission (SEC), the Nasdaq listed OTA said that company has plans to use the proceeds from the public market sale of shares towards "general corporate and business purpose". The offering is being managed jointly by Citigroup and Jefferies. The company has said in its official statement, that shares are expected to close around June 26, 2018 subject to customary conditions. Interestingly, th...

Rich and powerful warn robots are coming for your jobs

Some of the richest, smartest and most powerful humans have an important message for the rest of us as they convened this week to discuss pressing global issues: the robots are coming. At the Milken Institute's Global Conference in Beverly Hills, California, at least four panels so far have focussed on technology taking over markets to mining - and most importantly, jobs. "Most of the benefits we see from automation is about higher quality and fewer errors, but in many cases it does reduce labor," Michael Chui, a partner at the McKinsey Global Institute, said on Tuesday during a panel on "Is Any Job Truly Safe?" The four-day annual conference, which began on Sunday, has 3,500 invite-only participants exploring "The Future of Human Kind." Technology has not only done away with l...

Infosys Co-founders Gopalakrishnan, Shibulal Sell Their Shares Worth Rs 862 Crore

Two of the billionaire co-founders of software major Infosys, S Gopalakrishnan and S D Shibulal, and some of the latter's family members sold 7.5 million equity shares of the company for Rs 862 crore on exchanges. The sale was executed by Citigroup Global Markets India Private Limited as the sole broker for the sale of shares, Gopalkrishnan and Shibulal said. The sale of shares was executed at an average price of Rs 1,149.45 across all sellers, they said in a joint statement here. The founders have served Infosys in various capacities, since its inception in 1981 until October 2014 and made it a professionally run company with a global presence. TThe sale has been done to partially monetize their stake, having nurtured the company for more than three decades, for personal reaso...