Easy Trip Planners, the online travel agency planned to generate Rs 510 crore through its public issue of shares. The company gained 11.04 percent on March 19, 2021, yet not met the expectations of the market.
Earlier, the company was negatively affected due to the pandemic and spread. The business activities, cash flow, and financials were the victim of the situation.
The restriction and discontinue of domestic and international travel led to its declined performance.
On the opening of the stock was for Rs 206 on the BSE. The expectation was to get listed with a 50-60 percent premium as the demand was high in the parallel market.
At the end of the day, there was a gain of 11.04 percent at Rs 208.30. On Bombay Stock Exchange recorded a volume of 44.08 lakh shares.
On the other hand, National Stock Exchange recorded 4.26 crore equity shares. It showed a gain of 11.47 percent at Rs 208.45.
The company started its operation in June 2008. It offers services like hotel booking, providing air tickets, holiday packages, bus booking, etc.
The contribution of the air tickets business amounts to 94 percent of the total revenue of the business. Also, hotel and holiday packages add 5 percent to the revenue. At last, the leftover portion that is other services adds up to the revenue to one percent.
The company has collaborated with most of the Indian airlines and booking agencies. This joint relation among the companies assists them to provide the best deals to their customers.
The company is the top performer in the previous three financial years leaving behind the other significant travel agencies. Additionally, the net profit margin of the company was the highest in India.
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