BackThis tech IPO gives multibagger return to allottees. Details here
EaseMyTrip or Easy Trip Planners IPO has delivered 320 per cent return to its allottees in near one year of its listing
PremiumEaseMyTrip or Easy Trip Planners IPO (Initial Public Offer) is one of the rare tech IPOs that has given stellar return to its allottees since its listing on 19th March 2021. When a good number of new age tech issues like Zomato, Paytm, CarTrade Tech, etc. have failed to meet the expectations of its investors, EaseMyTrip IPO has delivered 320 per cent return to its lucky allottees.
EaseMyTrip share price history
EaseMyTrip public issue was launched in Indian primary markets in March 2021 at a price band of ₹186 to ₹187 per equity share. EaseMyTrip share price opened on the Indian bourses at a premium of near 13 per cent on 19th March 2021. It listed on BSE at ₹206 per equity share whereas it listed on NSE at ₹212 per equity share. On Tuesday, EaseMyTrip share price ended at ₹393.50 on NSE. As the stock has announced 1:1 bonus share after its listing, the allottees who got EaseMyTrip shares during the IPO launch, their actual cost of each share is ₹93.50 ( ₹187/2). This means the tech IPO has delivered around 320 [{( ₹393.50 - ₹93.50)/93.50} x 100}] per cent return to the lucky allottees who got shares of the tech IPO during share allotment process.
In Q1FY23 results, EaseMyTrip reported 125 per cent jump in its profit after tax (PAT) from ₹14.9 crore in Q1FY22 to ₹33.7 crore in Q1FY23. The travel service provide company reported jump in Gross Booking Revenue (GBR) from ₹356.7 crore to ₹1,663.1 crore, logging around 366 pre cent year on year (YoY) rise. Air segment booking of the company was up by 212 per cent, and hotel nights booking grew by 409 per cent and Trains, Buses and others registered a growth of 132 per cent in June 2022 quarter.
“We are witnessing the golden era for the Indian OTAs as the travel and aviation industry is showing an upward growth trajectory, with significant support from the government the industry is set reach ultimate heights due to the growing demand. As a result, EaseMyTrip is prepared to continue its dream run of delivering consistent profits while supporting the revival of the travel ecosystem," EaseMyTrip said in a press statement issued after the announcement of Q1 results of the company.
Unicorn status
EaseMyTrip joined the elite club of India’s first 100 unicorns as the company’s market capitalization crosses over $1 billion in September 2021 and it became one of the rare, listed consumer internet startups in the world to gain unicorn status while being completely bootstrapped.
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