Easy Trip Planners’ initial public offer (IPO) opens for bidding today i.e. March 8, 2021. The IPO will be open for three days, until March 10. The shares will be sold in the price band of Rs 186-187 per share, fetching the company Rs 510 crore at the higher end of the price band. The shares of the online travel company are likely to be listed on the BSE and NSE on March 19, 2021.
Easy Trip Planners IPO is an offer for sale by founder promoters, Nishant Pitti and Rikant Pittie. Nishant holds 49.81 per cent stake and Rikant has 49.68 per cent in the company. A total of up to 75 per cent of the issue is reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 10 per cent for retail investors.
Investors can apply for a minimum one lot of 80 equity shares and a maximum of 13 lots.
Easy Trip Planners was incorporated in the year 2008. It is the second largest online travel agency in India in terms of gross revenue and offers online traveling services through its website, as well as Android and IOS mobile app.
Easy Trip Planners does not have any peers listed in the Indian stock markets. Both MakeMyTrip and Yatra are both listed on the Nasdaq stock exchange.
Axis Capital and JM Financial Consultants are the lead managers, and KFin Technologies is the registrar to the issue.