IPO News

Easy Trip Planners to launch it’s IPO worth Rs 510 crore on March 8

According to reports, Delhi based online travel agency Easy Trip Planners plans to raise Rs.510 crore through initial public offer.

The issue will open for subscription on March 8 and close on March 10 respectively.

Incorporated in 2008, Easy Trip Planners is the second largest online travel agency in India in terms of gross revenue.

It offers a range of travel products and services besides end-to-end travel solutions including airline tickets, rail tickets, bus tickets.

This further comprises taxis, holiday packages, hotels, and other value-added services i.e. travel insurance and visa processing.

Currently, it has access to 400 international and domestic flights other than 1.1 million hotels in India or abroad.

Moreover, the company has fixed a price band of Rs 186-187 per share for the IPO.

On Wednesday, it’s shares were trading at Rs 347 as per market indices.

This indicates a premium of over 85 per cent over the issue price in the grey market.

Further, Easy Trip Planners is entirely an offer for sale. The promoters Nishant Pitti and Rikant Pittie are selling up to Rs 255 crore worth of shares each.

Meanwhile, the book running lead managers to the issue are Axis Capital Ltd and JM Financial Ltd.

However, the registrar to Easy Trip Planners issue is KFin technologies Private Ltd.

Also, it has entered into various agreements with third parties, including airlines, GDS and API service providers, channel managers.

In fact, it has tie ups with IRCTC, corporate customers and IATA for conducting business activities.

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