Easy Trip Planners IPO: Opens today; Find details that you should know before subscribing

The Rs 510 crore Easy Trip Planners' initial public offer (IPO) will open for bidding for three days, today, i.e. on Monday, March 8, 2021, and conclude on Wednesday, March 10, 2021. The online travel company has fixed the price band of its share offering at Rs 186-187 per share.

Investors can bid for a minimum of 80 equity shares and in multiples of 80 equity shares thereafter, up to 13 lots. The shares are likely to be listed on both BSE and NSE, on March 19, 2021. The company expects that listing the equity shares will enhance visibility and brand and provide liquidity to its existing shareholders.

The company's issue is being managed by Axis Capital and JM Financial, whereas KFin Technologies is the registrar of the issue.

The Easy Trip Planners' IPO is a public issue that comprises a complete offer for sale by promoters. Nishant Pitti and Rikant Pitti will sell shares worth Rs 255 crore each through the offer. Nishant holds a 49.81 per cent stake in the company and Rikant, 49.68 per cent. As it is an offer for sale issue, the company will not receive any issue proceeds and all the money will go to existing selling shareholders.

Besides, the anchor investors segment was open for subscription on March 5, 2021, and the travel company on Friday raised little more than Rs 229 crore from anchor investors at Rs 187 per share, ahead of its initial share-sale.

Among the investors that have been allocated shares are HSBC Global Investment Funds, Nomura Funds Ireland Public Limited Company, Tata Trustee Company and Nippon Life India Trustee Company among others.

A total of up to 75 per cent of the issue is reserved for qualified institutional buyers (QIB), 15 per cent for non-institutional investors (NII) and 10 per cent is set aside for retail investors.

About Easy Trip Planners

Easy Trip Planners incorporated in 2008 is the second largest online travel agency in India in terms of gross revenue. It has offices across various Indian cities, like Noida, Mumbai, Hyderabad and Bengaluru. Its international offices (as subsidiary companies) are located in Singapore, the UAE and the UK. Easy Trip offers a range of online travelling services through its website, as well as Android and IOS mobile app. EaseMyTrip.com is operated by Easy Trip Planners Private Ltd.