Easy Trip Planners IPO opens for subscription: Check issue price, GMP, other details; should you subscribe?
Easy Trip Planners IPO is entirely an offer for sale (OFS) by two promoters, Nishant Pitti and Rikant Pittie, who will sell up to Rs 255 crore worth of shares each
BusinessToday.In | March 8, 2021 | Updated 12:23 IST
Easy Trip Planners opens for subscription today
The Rs 510-crore initial public offer (IPO) of Easy Trip Planners opened for bidding today. The three-day IPO, which will close on March 10, is entirely an offer for sale (OFS) by two promoters, Nishant Pitti and Rikant Pittie, who will sell up to Rs 255 crore worth of shares each. While Nishant holds 49.81 per cent stake in the company, Rikant owns 49.68 per cent in the company.
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.
Online travel company Easy Trip Planners’ initial public offer (IPO) opens for subscription on March 8. The company has fixed the price band at Rs 186-187 per share and aims to raise Rs 510 crore. The grey market is gung ho over the IPO, thanks to the bulls taking charge of the secondary market.
Grey market premium (GMP) of the New Delhi-based company has surged to Rs 166-170 in the unofficial market, translating into as much as 90 per cent premium over the IPO price. The company operates the travel and tourism website EaseMyTrip.com.
The Covid pandemic has wreaked havoc on the travel and tourism industry, which is still ailing for relief. Despite the unlock theme rolling out, the industry has still not reached to pre-Covid levels.