Tag Archives: $YTRA

Yatra Online (YTRA), mcap=$148m, price $2.36 vs $1.50

India’s second-largest OTA at 4x fwd EBITDA.
Trades at 20x discount to its India-listed peer.
Activist recently got a board seat aiming for the secondary listing in India (much higher valuations) and/or an eventual sale of the company.
Strong competitive position.
Expected to be EBITDA and cashflow positive by the end of 2022.
Was to be acquired by EBIX in 2019 at $4.9/share vs $1.5 today – canceled mainly due to covid.
A number of potential suitors.