Yatra gains 3% after MAK Capital One discloses 19.4% stake

• Yatra Online (NASDAQ:YTRA) gained 3% in after hours trade Friday night after the company reported that MAK Capital One L.L.C. has 19.4% stake, representing 12.12M shares.
• The following transactions in the ordinary shares were effected by MAK Capital Fund LP during the past sixty (60) days:
• MAK Capital bought 680,966 shares in the last 60 days.
• SEC Form 13D

Comments

[Darren McCammon]

YTRA is an ticketing and travel site based out of India. It has a listing on the India stock exchange in its final stages that may increase valuation, and should benefit significantly from post Covid increases in India domestic and international travel.

[Mikro Investments]

@Darren McCammon Yes, Yatra's less well-known peer in India, Easy Travel Planners, trades at close to 8x the value of Yatra's US valuation. This shows the potential impact Yatra's listing in India could have on its valuation in the US.

After the pandemic, travelers in India are almost in revenge travel mode. Yatra sees current domestic air travel at 90% of the pre-covid level in both B2B and B2C sectors and expects it to reach the pre-covid level by Q3. This should significantly boost revenue as well as profitability for Yatra.