InvestorQ : What are the details of Ease My Trip’s IPO?
natasha Samani made post

What are the details of Ease My Trip’s IPO?

Neha Samdani answered.
2 months ago

Travel agency Ease My Trip (EMT) plans to raise up to Rs 510 cr through an Initial Public Offer (IPO). The IPO opens for subscription on 8th Mar and closes on 10th Mar 2021. The company has fixed a price band of Rs186-187 per share for its initial share sale. It comprises an offer-for-sale of 2.72 crore shares, amounting to 25.10% of the paid-up equity. At the upper end of the price band, Easy Trip will be valued at Rs 2,031 crore. The minimum order quantity is 80 shares. The company's issue is being managed by Axis Capital and JM Financial.

Easy Trip was founded in 2008 as a distribution channel (business to business to consumer) allowing travel agents to book tickets for the offline market. In 2011, it started selling directly to customers (business to consumers) and two years later to corporates (business to enterprise).

The company offers air, rail, and bus tickets, hotel and holiday packages, and other value-added services. The company provides customers an option to buy tickets without a convenience fee, ensuring a repeat transaction rate of 85.95% between April 1, 2017, and Dec. 31, 2020, according to its prospectus. The company had 10.32mn registered customers as of December. 

Key Details Issue openMarch 8-10.
Face valueRs 2 per share.
Offer for saleUp to Rs 510 crore.
IPO priceRs186-Rs187/share
Shares on offer2.72 crore.
Minimum bid size80 shares.
Listing onNational Stock Exchange and BSE.
Book running lead managersAxis Capital and JM Financial.
Tentative listing date

Mar 19, 2021