Easy Trip Planners is promoting shares within the value band of RS 186-187 per share.
Easy Trip Planners share sale by way of preliminary public providing (IPO) was absolutely subscribed on the primary day of the problem, knowledge from the National Stock Exchange confirmed. Easy Trip Planners IPO was subscribed 2.33 instances by the top of the primary day of bidding. Easy Trip Planners obtained over 3.5 crore bids for its shares in contrast with 1.51 crore shares on the provide within the ongoing IPO. Retail traders confirmed nice deal of curiosity within the IPO because the portion reserved for them was subscribed over six instances.
Portion for non-institutional patrons was subscribed 0.02 instances and certified institutional patrons had been absent on the primary day.
Easy Trip Planners shares had been in large demand because the IPO was absolutely subscribed inside hours of opening. By 12:00 pm, the IPO was subscribed.
Easy Trip Planners is promoting shares within the value band of RS 186-187 per share, fetching the corporate Rs 510 crore on the greater finish of the worth band. The shares of the net journey firm are more likely to be listed on the BSE and NSE on March 19, 2021.
Easy Trip Planners was integrated in 2008. It is the second largest on-line journey company in India by way of gross income and provides on-line touring companies via its web site, in addition to Android and IOS cellular app.
Domestic brokerage agency Anand Rathi has a ‘subscribe’ score on the inventory. “At the upper end of the IPO price band, it is offered at 58.62 times its FY20 earnings, with a market cap of Rs 2,032 crores. There are no listed entities in India whose business portfolio is comparable with that of its business.
Given the company’s strong operating and financial performance in a highly competitive and growing industry; including strong margins, return on net worth of 32.58 per cent in FY20, strong balance sheet and management – we give this IPO a Subscribe rating,” Anand Rathi stated in a observe.
Easy Trip Planners IPO is a suggestion on the market by founder promoters, Nishant Pitti and Rikant Pittie. Nishant holds 49.81 per cent stake and Rikant has 49.68 per cent within the firm. A complete of as much as 75 per cent of the problem is reserved for certified institutional patrons, 15 per cent for non-institutional traders and 10 per cent for retail traders.
Investors can apply for a minimal one lot of 80 fairness shares and a most of 13 heaps.
