Shares of Yatra Online on Thursday listed with a discount of over 10 per cent against the issue price of Rs 142.
The stock made its debut at Rs 130, registering a decline of 8.45 per cent from the issue price on the BSE. It further fell by 10.28 per cent to Rs 127.40.
On the NSE, shares of the company began the trade at Rs 127.50, recording a fall of 10.21 per cent.
The company's market valuation was at Rs 2,127 crore in early deals.
The initial public offer of travel company Yatra Online was subscribed 1.61 times last week.
The Rs 775 crore-initial share sale had a fresh issue of up to Rs 602 crore and an offer for sale of up to 1.21 crore equity shares.
The price range for the offer was Rs 135-142 a share.
Proceeds from the fresh issue worth up to Rs 150 crore will be utilised towards strategic investments, acquisitions and inorganic growth and up to Rs 392 crore towards investment in customer acquisition and retention, technology, and other organic growth initiatives.
Yatra Online Ltd is a corporate travel services provider in terms of the number of corporate clients and the third largest online travel company in the country among key online travel players in terms of gross booking revenue and operating revenue.