Yatra Online Ltd increases stake in JV

Yatra Online Limited ("the Company") had a joint venture called Adventure and Nature Network Private Limited ("ANN") as a Joint Venture Company operating in the field of adventure tourism.

The Company has acquired the 49% stake/securities (the Transaction) held by the other joint venture partner in ANN and vide the Share Purchase Agreement ("SPA") executed on June 19, 2024.

Consequent to completion of the Transaction on the closing date as mentioned in the SPA, the Company's shareholding in ANN will increase from 50% (pre-acquisition) to 99% (post-acquisition) and ANN will become a Subsidiary of the Company effective the closing date as captured in the SPA.

The Company intends to increase its presence in the space of adventure tourism by focusing on certain areas and expects that acquisition of the stake from the joint venture partner will help focus on its activities by bringing in certain synergies by converting the JV entity into its subsidiary.

Shares of Yatra Online Limited was last trading in BSE at Rs. 129.50 as compared to the previous close of Rs. 129.40. The total number of shares traded during the day was 5917 in over 146 trades.

The stock hit an intraday high of Rs. 132.40 and intraday low of 128.60. The net turnover during the day was Rs. 768352.00.

Source : Equity Bulls

Keywords

INE0JR601024 YatraOnline Tour Travel StakeIncrease AdventureandNatureNetwork