Easy Trip Planners Ltd, which is the parent company of online travel agency easemytrip.com, has received bids for 239.93 crore equity shares against an offer size of 1.5 crore shares, the subscription data available on exchanges showed.
Easy Trip IPO was subscribed more than 159.10 times so far on March 10, the final day of bidding.
The reserved portion for retail investors was subscribed 69.16 times, while the portion set aside for non-institutional investors was subscribed 382.21 times. Qualified Institutional Buyers (QIBs) have put in 77.53 times more bids than the reserved portion.
The Rs 510 crore public issue is a complete offer for sale by promoters who currently hold 100 percent shareholding in the company. Promoters Nishant Pitti and Rikant Pitti are going to offload shares worth Rs 255 crore each through public issues. Post offer, they will hold 75 percent shareholding in the company.
According to the information provided by the brokerages, on March 19, the allotment of the IPO will take place, while from March 17, the refund process will be initiated. Also, on March 19 itself, the shares of the EaseMyTrip IPO are likely to get listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
EaseMyTrip IPO Allotment & Listing Dates
Here are the major events and dates related to this IPO.
| Basis of Allotment Finalization | 16 March 2021 |
| Refunds Initiation | 17 March 2021 |
| Credit of Shares to Demat Account | 18 March 2021 |
| Share Listing Date | 19 March 2021 |
“EasyMyTrip’s mantra for success is its unique business strategy wherein it provides its customers with an option of no-convenience fee which means that customers are not required to pay any service fee in instances where there is no alternate discount or promotion coupon availed. This strategy has paid off handsomely even during the pandemic, making them the second player in terms of booking volumes in 9MFY21,” Nirali Shah, Head of Equity Research at Samco Securities said to Money Control.
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