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Home >Markets >Ipo >Easy Trip Planners to raise 510 crore through IPO; Issue opens March 8

Easy Trip Planners to raise 510 crore through IPO; Issue opens March 8

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Easy Trip Planners aims to raise 510 crore through its public issue which is a complete offer for sale

  • Promoters Nishant Pitti and Rikant Pittie to sell up to 255 crore worth of shares each via offer for sale, holding 49.81% and 49.68% respectively in the company
  • Axis Capital and JM Financial are the book running lead managers to the issue

Mumbai: Delhi based online travel agency Easy Trip Planners to raise 510 crore through initial public offer (IPO). Issue opens for subscription on March 8 and closes on March 10.

Mumbai: Delhi based online travel agency Easy Trip Planners to raise 510 crore through initial public offer (IPO). Issue opens for subscription on March 8 and closes on March 10.

It aims to raise 510 crore through its public issue which is a complete offer for sale. Promoters Nishant Pitti and Rikant Pittie to sell up to 255 crore worth of shares each via offer for sale, holding 49.81% and 49.68% respectively in the company.

It aims to raise 510 crore through its public issue which is a complete offer for sale. Promoters Nishant Pitti and Rikant Pittie to sell up to 255 crore worth of shares each via offer for sale, holding 49.81% and 49.68% respectively in the company.

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The company and selling shareholders in consultation with merchant bankers will decide the price band and the minimum bid on Wednesday and the anchor book, to open on Friday.

EaseMyTrip.com is operated by Easy Trip Planners Private Ltd.

For the Calendar year 2021, Easy Trip will be the 10th issue, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft, Brookfield India REIT, Nureca, RailTel Corporation of India, Heranba Industries and MTAR Technologies.

The company has been consistently profitable since incorporation, and according to the CRISIL report, it was the only profitable online travel agency among the key online travel agencies in India during FY18-FY20, in terms of net profit margin.

Its market share in the total Indian online travel agency industry in terms of gross booking revenues and gross booking revenues for airline ticketing segment was approximately 4.6%, and 5.5%-6.5%, respectively, in FY20.

Easy Trip Planners was founded in 2008, an online travel agency market with offices across various Indian cities, including Noida, Bengaluru, Mumbai and Hyderabad. Its international offices (as subsidiary companies) are located in Singapore, the UAE, the UK and in January 2016, it opened its overseas branch in Maldives.

Axis Capital and JM Financial are the book running lead managers to the issue.

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