Easy Trip Planners IPO ends with robust subscription

Published on Mar 11, 2021 09:25

The initial public offer (IPO) of Easy Trip Planners received bids for 240.27 crore shares as against 1.50 crore shares on offer, according to the stock exchange data. The issue was subscribed 159.33 times.

The non-institutional investors category was subscribed 382.21 times. The qualified institutional buyers (QIBs) category was subscribed 77.53 times. The retail individual investors category was subscribed 70.40 times.

The issue opened for bidding on Monday, 8 March 2021, and closed on Wednesday, 10 March 2021. The price band for the IPO was set at Rs 186-187 per share.

The IPO comprised an offer for sale (OFS) of equity shares aggregating up to Rs 510 crore (including anchor portion of 1,22,72,727 equity shares). The post-issue promoter`s shareholding in the company will decline to 74.9% from 100%.

The company expects that listing of the equity shares will enhance visibility and brand image and provide liquidity to shareholders and will also provide a public market for the equity shares in India.

Ahead of the IPO, the company on 5 March 2021 allotted 1,22,72,727 shares to anchor investors at Rs 187 per share, aggregating to Rs 229.49 crore.

Easy Trip Planners is the second ranking online travel company in India in terms of booking volume in the nine months ended December 2020 and third in terms of gross booking revenues in FY2020. It is also the only profitable online travel agency among the Key Online Travel Agencies in India and its consistently profitable since its incorporation.

The company`s three distinct distribution channels, namely Business to Customers (B2C), Business to Enterprises (B2E) and Business to Business to Customers (B2B2C) channels, provides it with a diversified customer base and wide distribution network. The company offers a comprehensive range of travel-related products and services for end-to-end travel solutions, including airline tickets, hotels and holiday packages, rail tickets, bus tickets and taxis as well as ancillary value-added services such as travel insurance, visa processing and tickets for activities and attractions.

On a consolidated basis, the company reported a net profit of Rs 30.54 crore and sales of Rs 49.27 crore in the nine months ended on 31 December 2020.