Easy Trip share listing today: Grey market premium signals bumper listing
The shares of Easy Trip Planners will be listed on the BSE and NSE on Friday. The Rs 510 crore issue, which was sold between March 8 and 10, was subscribed a whopping 159.33 times. Investors expect that their money will be doubled where the shares of Easy Trip are listed on Friday at 10 AM.
As per data available with NSE, the company received bids for over 240.27 crore shares against more than 1.50 crore shares on offer. The category meant for qualified institutional buyers (QIBs) was subscribed 77.53 times, while those for non-institutional investors 382.21 times and retail individual investors (RIIs) 70.40 times.
The IPO of Easy Trip was an offer for sale aggregating up to Rs 510 crore. It was in the price range of Rs 186-187 per share. Easy Trip Planners had raised a little over Rs 229 crore from anchor investors ahead of the public issue.
According to the data provided by Unlistedarena.com, the scrip is commanding a good premium in the grey market ahead of the listing. Its shares are trading at Rs 322 in the grey market apiece which is almost 72 per cent above the issue price of Rs 187 per share.
At one point, it was commanding a premium of Rs 145-155 per share.
EaseMyTrip.com is operated by Easy Trip Planners Private Ltd. 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.
According to the company's claim, it was second among the key online travel agencies in India in terms of booking volumes during the pandemic and was the only profitable online travel agency during FY18-20 in terms of net profit margin.
Easy Trip has access to 400 international and domestic flights and around 11 lakh hotels. It has more than 96 lakh registered customers. As many as 60,000 travel agents are linked to the company.
