The second company to go public in March is a competitor to the likes of Cleartrip, MakeMyTrip and Yatra Online. Here’s a quick look at Easy Trip Planners and the details of its IPO.
Key highlights
Price band: ₹186–187 per equity share
Lot size: 80 shares
IPO size: ₹510 crore
Cost per lot: ₹14,960
Issue opens: 8 March 2021
Issue closes: 10 March 2021
Basis of allotment date: 16 March 2021
Initiation of refunds: 17 March 2021
Credit of shares to demat account: 18 March 2021
Expected listing date: 19 March 2021
About Easy Trip Planners
Known for the ‘EaseMyTrip’ brand, Easy Trip Planners is an online travel company that offers booking services for airline tickets, hotels and holiday packages, along with bus/train tickets and travel insurance. It operates in the B2B, B2C, and travel agent-driven B2B2C segments. The New Delhi-based company was founded in 2008 and has been profitable since incorporation.
The company has financed its working capital requirements and business expansion through funds generated from its operations, equity infusion from its promoters and debt financing. Another USP of the company is that it provides customers with the option of no convenience fee for ticket bookings.
Its market share in the Indian online travel industry in terms of gross booking revenues was approximately 4.6% in FY20. Meanwhile, gross booking revenues for the airline ticketing segment was approximately 6% during the same period.
Crucially, the company claims to have recovered 70% booking volumes in the third quarter of the Covid-hit FY21 versus the same period last year. Meanwhile, recovery in booking volumes for rivals such as MakeMyTrip and Yatra Online stood at 46% and 44%, respectively.
Here’s an overview of the company’s financial performance.
| Financials | FY18 | FY19 | FY20 | 9MFY21 |
| Revenue from operations (₹ cr) | 100.1 | 101.1 | 140.9 | 49.25 |
| Profit (₹ cr) | 0.03 | 23.99 | 34.65 | 31.11 |
Here's a quick look at the Competition analysis
| Easy Trip Planners Ltd | MakeMyTrip Ltd | Yatra Online | |
| Gross Booking Revenue (₹ cr, FY20) | 4,200 | 45,200 | 8,500 |
| Gross booking CAGR (%, FY18-20) | 47 | 27 | (4) |
| Net Profit Margin (%, FY20) | 23.3 | (87.0)% | (11.4)% |
About the issue
Unlike most recent issues, the Easy Trip Planners IPO is entirely an offer for sale. Promoters Nishant Pitti and Rikant Pittie will partially sell their stake to receive ₹255 crore each. After the issue, the promoter shareholding in the company will reduce from 100% to 75%. The company’s post-issue market capitalisation is estimated at ₹2,021–2,032 crore.
IPO allocation quota
| QIB | HNI | Retail |
| 75% | 15% | 10% |
To know more about the IPO, read its red herring prospectus here. The issue opens on 8 March 2021 and you can subscribe to the IPO of Easy Trip Planners with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!