Easy Trip Planners’ initial share sale became the second-most subscribed so far in 2021 on its third and final day.
The online travel portal’s issue was subscribed 160.18 times at 5 p.m. on March 10, according to exchange data. Nearly 2.72 crore shares of the company—which is the tenth to go public this year—were on offer in its Rs 510-crore IPO.
That was only overtaken by MTAR Technologies’ IPO, which closed on March 5 and was subscribed 200.79 times.
Subscription Details
- Institutional investors: 77.95 times.
- Non-institutional Investors: 384.26 times.
- Retail investors: 70.76 times.
The offering, in which shares were sold at Rs 186-187 apiece, was fully subscribed on its first day itself.
Axis Capital and JM Financial were the book running lead managers to the issue.
Easy Trip was founded in 2008 as a distribution channel (business to business to consumer) allowing travel agents 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 -added services. The comp offers air, rail and bus tickets, hotel and holiday packages, and other -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 red herring prospectus. It had 10.32 million registered customers as of December 2020.
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