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Easy Trip IPO: Easy Trip IPO to close today, subscribed nearly 8 times so far
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EaseMyTrip IPO subscription status: Easy Trip Planners IPO subscribed 3 times so far on Day 2
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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.
The IPO of Easy Trip Planners, the company that operates online travel portal easemytrip.com, was subscribed over 2.3 times on Monday, the first day of the issue. On Friday, the company allotted Rs 229 crore worth of shares–45 per cent of the total issue size of Rs 510-crore to anchor investors. HSBC, Nomura, Aditya Birla Sunlife Insurance, Sundaram MF and Bajaj Allianz Life Insurance were some of the investors allotted shares. Easy Trip has set a price band of Rs 186-187 per share. The IPO is entirely an offer for sale by promoters Nishant Pitti and Rikant Pittie, who will offload shares worth Rs 255 crore each. Retail investors portion for the IPO is only 10 per cent as against typical 35 per cent for other IPOs.
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Here is why analysts maintain a bullish mood for the ₹510 crore IPO of bootstrapped online travel aggregator EaseMyTrip
Here is why analysts maintain a bullish mood for the ₹510 crore IPO of bootstrapped online travel aggregator EaseMyTrip
Navdeep YadavMar 8, 2021, 11:17 IST
BCCL
The ₹510 crore IPO of EaseMyTrip is now open for public subscription.
The best thing about the travel aggregator is the cost-conscious model that sets it aside from other travel aggregators in India.
Being bootstrapped, the management of the company has tended to be extremely cost-conscious, and this has enabled them to be profitable since inception, said a Ventura report.
According to Choice Broking, Easy Trip has been profitable since its inception and is the only profitable company among the key OTAs.
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