Yatra Online, Inc. (NASDAQ:YTRA) Q2 2023 Earnings Conference Call November 29, 2022 8:30 AM ET

Company Participants

Manish Hemrajani – Vice President, Corporate Development and Investor Relations

Dhruv Shringi – Chief Executive Officer and Co-Founder

Rohan Mittal – Chief Financial Officer

Conference Call Participants

Scott Buck – H.C. Wainwright

Anja Soderstrom – Sidoti

Lisa Thompson – Zacks Investment Research

Operator

Ladies and gentlemen welcome to the Yatra Fiscal Second Quarter Financial Results Conference Call. My name is Glenn and I will be the moderator for today's call. [Operator Instructions]

I would now hand you over to the host Manish to begin. Manish, please go ahead.

Manish Hemrajani

Thank you, Glenn. Good morning everyone. Welcome to Yatra's fiscal second quarter 2023 financial results for the period ended September 30, 2022. I'm pleased to be joined on the call today by Yatra's CEO and Co-Founder, Dhruv Shringi; and our new CFO, Rohan Mittal. The following discussion, including responses to your questions, reflects management views as of today, November 29, 2022. We don't undertake any obligation to update or revise the information.

Before we begin our formal remarks, allow me to remind you that certain statements made on today's call may constitute forward-looking statements, which are based on management's current expectations and beliefs and are subject to several risks and uncertainties that could cause actual results to differ materially. For a description of these risks, please refer to our filings with the SEC and our press release filed earlier this morning. Copies of this and other filings are available from the SEC, and also on the IR section of our website.

With that, let me turn the call over to Dhruv. Dhruv, please go ahead.

Dhruv Shringi

Thank you, Manish. Good morning everyone and thank you for joining us today for our second quarter earnings call of fiscal 2023. Before we discuss our results for the quarter, let me just quickly update you on the Draft Red Herring Prospectus, the DRHP, which was filed by our Indian subsidiary, Yatra Online Limited, on March 25, 2022. The Securities and Exchange Board of India, which is SEBI, issued the final observation letter dated November 17, 2022, which means Yatra India's proposed IPO can open for subscription now within a period of 12 months from the date the final observation letter was issued. I just want to clarify that this doesn't mean that it will open after 12 months, this means that it can open at any point within a 12-month window from the date of the issuance of the letter. You will recall that the Yatra India subsidiary had proposed an IPO of its equity shares, comprised of a price issue of primary sale of up to INR 7,500 million and an offer for sale of up to 9.3 million equity shares in a secondary offering.