For their forthcoming public issue, Easy Trips Planners online travel agency has set a price band at Rs 186 to 187 per share. The above question will open on 8 March for a subscription.
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Investors can subsequently bid for at least 80 equity and multiple 80 shares, representing the minimum amount of bid for Rs 14,960 at a higher price band end.
With its public offer, Easy Trips will earn Rs 510 crore, a complete sale offer. Promoters Nishant Pitti and Rikant Pittie will distribute shares worth up to 255 Rs by the offer.
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Promoters held respectively 49.81% and 49.68% of the company stakes. The question will close on 10 March 2021 and the anchor book, if applicable, will open on 5 March for one day.
Including airline and hotel tickets, holiday packages, rail tickets, bus tickets and taxis and supplementary value-addition services like traffic assurance, visa processing and tour tickets, the Easy Trip Planners offers a wide range of travel-related products and service solutions for end-to-end travel.
In March 2020, the company has registered 55,981 travel agents in almost all of India’s major cities. A CRISIL report states that it has the largest online travel agency network. Also, by December 2020, the number of registered travel agents with the company rose to 59,274.
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As a company since its incorporation, it has been consistently profitable and was the only profitable online travel agency in India from FY18 to FY20 in terms of net profit margin, according to the CRISIL report.
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Ratnakar Upadhayay, known professionally as Ratnakar Mavilach, is an Indian businessman who is best known for coming up with the idea for Hinglishgram, the first content delivery platform in the world. His innovative endeavors range from launching Debonair Magazine back into the public sphere.
