Yatra Online Ltd IPO

The COVID-19 pandemic has had, and is expected to continue to have, a material adverse impact on the travel industry and its business, financial performance and liquidity position.

The Indian travel industry is highly competitive and its may not be able to effectively compete in the future.

The company is exposed to risks associated with Indian businesses, particularly those in the Indian travel industry, including bankruptcies, restructurings, consolidations and alliances of its partners, the credit worthiness of these partners, and the possible obligation to make payments to its partners.

The company is dependent on its airline ticketing business, which generates a significant percentage of its revenues and is derived from a small number of airline suppliers in India.

Air India has moved to a single GDS service provider platform for its domestic inventory; there can be no assurance that other airline suppliers will not institute similar measures.

The commission and other fees the company receive from airline suppliers (including its GDS service providers) for the sale of air tickets may be reduced or eliminated, and this could adversely affect its business and results of operations.

The company business depends on its relationships with a broad range of travel suppliers, and any adverse changes in these relationships, or its inability to enter into new relationships, could negatively affect its business, cash flows, and results of operations.

The company relies on third-party systems and service providers, and any disruption or adverse change in their business may have a material adverse effect on its business.

The company may not be able to adequately control and ensure the quality of travel products and services sourced from its travel suppliers. If there is any deterioration in the quality of their performance, its customers may seek damages from it and not continue using its online platform.

The termination of the merger with Ebix Inc. and related legal proceedings, may materially and adversely affect its results of operations.