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Easy Trip Planners IPO: Through its public issue, the company plans to raise ₹ 510 crore
Easy Trip Planners share sale through the initial public offering (IPO) was subscribed 159.33 times on the final day of bidding, according to subscription data on the exchanges. By the end of the second day of subscription – March 9, the online travel agency’s IPO was subscribed 7.2 times, while on the first day, it was subscribed 2.33 times. Retail investors showed huge interest in the IPO as the portion reserved for them was subscribed 77.40 times, on March 10 by 5:00 pm. The portion set aside for non-institutional buyers was subscribed 382.21 times, while the portion reserved for qualified institutional buyers was subscribed 77.53 times. (Also Read: Easy Trip Planners IPO Subscribed 7.2 Times On Second Day Of Subscription )
Easy Trip Planners sold shares in the price band of Rs186 -187 per share and through its IPO and plans to raise ₹ 510 crore at the higher end of the price band. Opening on March 8, Easy Trip Planners IPO subscription window closed today on March 10, remaining open for a period of three days. The shares of the online travel firm are proposed are likely to be listed on the BSE and NSE on March 19, 2021.
”Easy Trip Planners plans to sustain high growth in air travel by further boosting its international air travel. It also intends to expand its Hotel and Holiday Packages segment which enjoys better margins vis-a-vis air ticketing segment. Thus it recently incorporated subsidiaries in U.K., U.A.E. and Singapore to garner higher share from international travel. The revenue contribution from this segment has increased to 5.4 per cent in FY20 from 2.7 per cent in FY19 and is expected to rise further,” Motilal Oswal Retail Research said in a note.
In terms of gross revenue, Easy Trip Planners is the country’s largest online travel agency. The company was incorporated in 2008 and offers a wide range of travel services as well as end-to-end travel solutions such as hotel bookings, rail tickets, taxis, airline tickets, bus tickets, holiday packages etc. Easy Trip also offers value-added services such as travel insurance, visa processing. Its services can be availed through its website or its Android and IOS mobile apps.
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