Easy Trip Planners retail portion fully booked on Day 1 of IPO

Capital Mind

IPO of an online travel-agency, Easy Trip Planners was subscribed 37 per cent within a few hours of opening on March 8. The price band for the offer has been fixed at Rs 186-187 per share.

It is largely backed by retail investors who put in bids that were 2.02 times more than the reserved portion.

The Rs 510-crore public issue received bids for 55.5 lakh equity shares against an offer size of over 1.5 crore equity shares, the subscription data available on the exchanges showed.

The portion set aside for non-institutional investors subscribed 1 per cent, while qualified institutional buyers have not started putting in bids for the issue. However, it raised Rs 229.5 crore from anchor investors on March 5.

Easy Trip Planners offers a comprehensive range of travel-related products and services for end-to-end travel solutions, including airline tickets, hotels and holiday packages, rail tickets, bus tickets and taxis as well as ancillary value-added services such as travel insurance, visa processing and tickets for activities and attractions.

The company had the highest CAGR during FY18-FY20 in terms of gross booking revenue and operating revenues among the key online travel agencies in India. It has a market share of 4.6 per cent in FY20.