Easy Trip Planners ipo: Easy Trip Planners’ Rs 510 crore IPO to open next week
Through the IPO, company’s founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of Rs 255 crore through offer-for-sale mechanism.
Nishant Pitti and Rikant Pitti hold 49.81 per cent and 49.68 per cent stake, respectively, in the company.
EaseMyTrip.com is operated by Easy Trip Planners Private Ltd.
The three-day issue would close on March 10 and the anchor investors portion would be open for subscription on March 5.
The city-based company said the object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges.
The company expects that listing of the equity shares will enhance its visibility and brand and provide liquidity to its existing shareholders.
The company’s issue is being managed by Axis Capital and JM Financial.
Founded in 2008, Easy Trip Planners is an online travel agency market with offices across various Indian cities, including Noida, Bengaluru, Mumbai and Hyderabad. Its international offices (as subsidiary companies) are located in Singapore, the UAE and the UK.
The company claimed that it was the only profitable online travel agency among the key online travel agencies in India during FY18-FY20 in terms of net profit margin.
In 2010, online travel company MakeMyTrip got listed on Nasdaq.
