NEW DELHI: Easy Trip Planners Rs 510 crore IPO kicked off on Monday.
The issue is entirely an offer for sale (OFS) by two promoters, who are offering Rs 255 crore worth of shares each, in the price band of Rs 186-187. The IPO is valued at 58.7 times the company s FY20 earnings, and 49 times FY21 earnings on an annualised basis.
Analysts said that competition in the industry is fierce, and that they believe it would take the travel industry some time to recover from the Covid-19 blues. The liquidity profiles of the carriers, which continue to remain fragile, are essential to the growth in the company’s revenues, they added.
NEW DELHI: The initial public offer of Easy Trip Planners was oversubscribed on on Monday, the first day of bidding, led primarily by retail investors.
By 5 pm, the IPO had received 3,51,05,760 bids so far on the first day, a subscription of 2.33 times compared with the issue size of 1,50,80,644 shares. The issue closes on Wednesday.
The issue is entirely an offer for sale (OFS) by two promoters, who are offering Rs 255 crore worth of shares each, in the price band of Rs 186-187. The IPO is valued at 58.7 times the company s FY20 earnings, and 49 times the FY21 earnings on an annualised basis.
On Tuesday, MTAR Technologies raised Rs 178.92 crore from 15 anchor investors at Rs. 575 per share including Nomura Funds Ireland, Jupiter South Asia Investment, White Oak Capital and Goldman Sachs India.
RailTel Corporation debuts at 16% premium over issue price of Rs 94 business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Shares of
RailTel Corporation of India were commanding a premium of Rs 15-17 per unit in the unlisted market ahead of their debut on exchanges on Friday, February 26, implying listing gains of 16-18 per cent over the issue price of Rs 94 per share. But a correction in the secondary market has dented the listing pop by nearly 50 per cent for RailTel shares as they were trading at Rs 109-112 apiece in the unlisted market from Rs 122 earlier, said grey market watcher Manan Doshi, co-founder of Unlistedarena.com. Keshav Lahoti, equity research analyst at Angel Broking too shares the view and sees a small premium listing for RailTel of around 15 per cent.