Recent D-Street debutant Easy Trip Planners announces dividend of Rs 2 per share
SECTIONS
Share
Synopsis
After debuting on bourses in March with a listing gain of 13.5 per cent, the share price has fallen with a surge in Covid cases.
Getty Images
Related
Easy Trip Planners announced an interim dividend of 100 per cent or Rs 2 per share for fiscal 2020-21. This is the first dividend announced by the company since its listing in March 2021.
“The 100 per cent interim dividend demonstrates our commitment to our shareholders to share the rewards of the success of the company. We believe that we have the only sustainable model in the OTA business and we have shown over time that we can both grow and deliver profits consistently. The interim dividend marks a major milestone in the company’s commencement of its journey as a listed firm and we intend to keep the company strong and profitable,” said Nishant Pitti, CEO and Co-Founder of Easy Trip Planners.
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 (IPO) of Easy Trip Planners will open for subscription on Monday, in which the company s promoters seek to raise Rs 510 crore from the primary market.
The issue mostly comprises a share sale by promoters, and the company will not get any amount from the IPO.
In the grey market, shares of the company were trading at a premium as high as 90 per cent, suggesting investors are bullish on its prospect in the secondary market .
Here are key things to know about the issue:
The Easy Trip Planners IPO will open for subscription on Monday, March 8, and close on Wednesday, March 10.