Easy Trip Planners IPO opens: Here's all you need to know about the issue
The initial public offering(IPO) of the travel agency Easy Trip Planners is now open for subscription. The offer is scheduled to close on March 10. The company that operates EaseMyTrip.com has set a price band of ₹186-187 per share to raise ₹5,100 million through the offer for sale.
Here is all you need to know about the offer
The minimum lot size of the IPO is 80 shares. Retail investors can apply for minimum one lot or 80 shares amounting to ₹14,960, as per the company's red herring prospectus filed with the Securities Exchange Board of India (Sebi).
The IPO of the rival four times huge MakeMyTrip was subscribed 1.13 times as of 12:15 pm, as reported by The Mint.
The issue is completely an offer for sale. Nishant Pitti and Riskant Pitti, the founders of the company with over 49 per cent stake each, will offload shares worth ₹255 crore each through the issue.
The registrar of the issue is KFintech Private Limited, while Axis Capital and JM Financials are the book running lead managers of the offer.
The analysts are, however, not so keen on the IPO as the resurgence in the coronavirus infections is anticipated to affect the aviation business again.
The company claims to be the leading travel agency in the country with a string network of 52,752 travel agents and over 9.27 million direct consumers, as of September 30, 2019.