Easy Trip Planners garners Rs. 229 Cr from anchor investors ahead of IPO
Easy Trip Planners garners Rs. 229 Cr from anchor investors ahead of IPO. The Easy Trip Planners is an online travel company raised on Friday. Ahead of its initial share offering, Rs. 229 crore by anchor investors free to public subscription on Monday. There was a total of 1,22,72,727 shares for Rs. 187 per share which is the upper end of the price tag band, at 35 anchor buyers. The company racked Rs. 229.5 crore at this price tag as a circular on the BSE website was uploaded.
HSBC Global Investment Fund, Nomura Funds Ireland Public Limited Company, Tata Trustee, Aditya Birla Sunlife Insurance Company, Sundaram Mutual Fund, the Bajaj Allianz Life Insurance Comps, and Nippon Life India Trustee Company have included in the allotted shares. The original public provision of the corporation is fully a donation for sale. Nishant Pitti and Rikant Pitti, the founders of the firm will sell their shares in the amount of Rs. 255 crore through a donation process. Rikant and Nishant own 49.81 percent of the company and 49.68 percent of the company.
The company’s issue handled by Axis Capital and JM Financial:
The company has set a price tag band of Rs. 186-187 per share for its Rs. 510 crore initial share-sale, which will open for public subscription on 8th March and close on 10th March. The purpose of the public concern is to achieve the benefits of listing the securities in the stock exchange. The company expects the listing of equity shares to increase its exposure and offer value to its existing shareholders. The company’s issue handled by Axis Capital and JM Financial.
Easy Trip Planners has established in 2008 and has offices from many Indian cities such as Noida, Bengaluru, Mumbai, and Hyderabad on the internet travel agencies marketplace. Singapore, UAE, and the United Kingdom have their overseas offices (as subsidiaries). The company declared that it was the only benefit of the internet travel agency to be the most important net profit margin on the internet travel agencies in India through FY18-FY20. In 2010, MakeMyTrip has included in the Nasdaq on the website.