The share allocation in Easy Trip Planners IPO, which was subscribed nearly 160 times, is likely to finalised tomorrow. KFintech Private Limited is the registrar of Easy Trip Planners IPO. And investors can check their allotment status on the registrar's website. Online travel company Easy Trip Planners operates EaseMyTrip.com website. The initial public offer (IPO) was an offer for sale aggregating up to ₹510 crore. It was in the price range of ₹186-187 per share.
Easy Trip Planners IPO was open between March 8 and March 10 and the ₹510-crore issue received bids for over 240.27 crore shares against more than 1.50 crore shares on offer. Retail individual investors segment was subscribed 70.40 times, the category meant for qualified institutional buyers (QIBs) 77.53 times, while those for non-institutional investors 382.21 times.
In the Easy Trip Planners IPO, 10% of the issue was reserved retail investors, 15% for non-institutional bidders and 75% for qualified institutional buyers
Ahead of the IPO, Easy Trip Planners had raised ₹229 crore from anchor investors. Easy Trip Planners said the objective of the issue is to get benefit of listing the shares on the stock exchanges, which will further enhance its visibility and brand and also provide liquidity for the existing shareholders.
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.
Easy Trip Planner businesses are organized primarily in following segments: airline tickets, hotels and holiday packages and other travel services like rail tickets, bus tickets, taxi rentals and ancillary value added services such as travel insurance, visa processing.
Axis Capital Limited and JM Financial Limited were the managers to the offer.
Some brokerages had recommended subscribe to Easy Trip Planner IPO despite the issue being aggressively prices. "At higher price band of Rs. 187, Easy Trip is demanding a P/E multiple of 58.6x (to its restated FY20 EPS of Rs. 3.2). Considering its market positioning among the key OTAs, we feel that the company has advantages like scalable business model, business growth in excess of the sector, cash generation ability etc. Thus considering the above observations, we assign a “subscribe" rating for the issue," Choice Broking said in a note. (With Agency Inputs)
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Easy Trip Planners IPO share allocation: How to check your application status - Mint
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