Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  EaseMyTrip shares list at subdued 11% premium
BackBack

EaseMyTrip shares list at subdued 11% premium

During the day, it gained as much as 24.67% up from its issue price of ₹187, before settling at ₹208.30 at close, up 11.39% from issue price

The stock opened at ₹206 on BSE and hit a high of ₹233.15 (Mint)Premium
The stock opened at 206 on BSE and hit a high of 233.15 (Mint)

Shares of online travel portal Easy Trip Planners Ltd (EaseMyTrip) closed their first day of trading with a subdued 11.4% premium on Friday, after receiving a whopping 160 times subscription in its initial public offering (IPO) earlier this month.

The stock opened at 206 on BSE and hit a high of 233.15. During the day, it gained as much as 24.67% up from its issue price of 187, before settling at 208.30 at close, up 11.39% from issue price.

Analysts blamed the tepid listing on the recent surge in covid-19 cases in India, which could further disrupt its operations and earnings.

India on Friday reported 40,000 new infections in the previous 24 hours—the highest daily number since 29 November. Maharashtra, Punjab, Kerala, Karnataka and Gujarat are the five states that have recorded the highest single-day surge since yesterday, government data shows. The country has been recording more than 20,000 cases since last week.

Earlier, the company had said in its draft red herring prospectus that due to the pandemic outbreak, its businesses, results, financial positions and cash flows were materially and adversely affected.

Domestic and international travel restrictions imposed in India also disrupted the company’s revenue.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 19 Mar 2021, 11:17 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie