Yatra listed on Nasdaq under the “YTRA” ticker symbol

The Dollar Business Bureau

India-based online travel company, Yatra Online Inc, has been listed on the Nasdaq stock exchange, under the “YTRA” ticker symbol with effect from Monday.

Yatra said it has concluded the deal with Terrapin 3 Acquisition Corporation (TRTL), and it becomes Yatra’s partially owned subsidiary.

As the part of process, Yatra has raised a primary capital of over $92.5 million from international investors, and Yatra Online Inc, the merged entity, will remain to be led by the management team of Yatra, the online travel agency said in a statement.

Commenting on the development, Dhruv Shringi, Co-founder and CEO of Yatra said, “It’s a matter of great pride for us to be one of the few Indian companies to be listed on Nasdaq. Over the course of the past decade, Yatra has established itself as one of the leading brands and companies in the Indian Internet space.”

Nathan Leight, Chairman, TRTL, said “We believe that Yatra is distinctively positioned to gain from the continuous vibrant expansion of mobile technology in India by its flourishing consumers.”

In July this year, Yatra and TRTL had signed a merger agreement that sets the value of Yatra enterprise at $218 million.

Established in 2006, Yatra has investment from investors including Reliance Capital, Norwest Venture Partners, Intel Capital, IDG Ventures, Network 18, Vertex Ventures, Valiant, Macquarie and RVCF.

The online travel company has a network of 61,000 hotels across India.