Mumbai, March 7: People can subscribe for the EaseMyTrip IPO (Initial Public Offer) from Monday, i.e. March 8, 2021. The bidding for the IPO can be done from March 8 to March 10, 2021. EaseMy Trip has fixed a price band of Rs 186-187 per share for its Rs 510-crore initial share-sale. The IPO lot size will be of 180 shares. The company's founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of Rs 255 crore through an offer-for-sale mechanism. Notably, Nishant and Rikant hold 49.81 per cent and 49.68 per cent stake, respectively, in EaseMy Trip.
Then IPO will open on March 8 and will close on March 10. The allotment of the EaseMy Trip will take place on March 16. The company will start providing refund to the bidders who are not selected from March 17 onwards. Shares of lucky bidders will be credited into their account on March 8, 2021. The EaseMyTrip IPO listing date is March 19, 2021. RailTel IPO Opens For Subscription Today: Here's How to Apply Online & Things to Know About the Rs 820 Crore IPO.
The IPO is from the digital marketing domain, and many experts believe that it has huge potential. "EaseMyTrip IPO can be a good buy for IPO enthusiasts as the upcoming IPO is from the digital marketing domain that has huge potential in the long-term time horizon," reported Zee Business quoting Avinash Gorakshkar, Head of Research at Profitmart securities as saying. Gorashkar further told the media house that due to the COVID-19 pandemic, the tourism industry is under the heat, and the EaseMy Trip IPO may not be able to give huge returns, but one can expect 10-15 per cent listing gains.
The online travel company on Friday raised a little over Rs 229 crore from anchor investors, ahead of its initial share-sale. A total of 1,22,72,727 shares have been allocated to 35 anchor investors at Rs 187 per share. It is the upper end of the price band.
Names of Anchor Investors that have been allocated EaseMyTrip.com shares (worth Rs 229.5 Crs) Are:
HSBC Global Investment Funds
NOMURA Funds Ireland
TATA Trustee Company
ADITYA Birla Insurance
SUNDARAM Mutual Fund
BAJAJ Allianz Life Insurance
NIPPON Life India Trustee
HDFC Life Insurance
L&T Mutual Fund Trustee
IIFL Focused Equity
MAX Life Insurance
THELEME India Master Fund
EaseMyTrip.com is operated by Easy Trip Planners Private Ltd, which is founded in 2008. Easy Trip Planners is an online travel agency market with offices across various Indian cities, including Noida, Bengaluru, Mumbai and Hyderabad. Its international offices (as subsidiary companies) are located in Singapore, the UAE and the UK.
(The above story first appeared on LatestLY on Mar 07, 2021 12:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).