Indias Easy Trip Planners IPO Subscribed 160 Times On Final Day

In fiscal 2020-21, five IPOs have seen subscription figures of more than 150 times, namely MTAR Technologies (200.79), Mrs. Bectors Food Specialities (198.02), Mazagon Dock Shipbuilders (157.41), Burger King India (156.65), and Happiest Minds Technologies (150.98).

The retail investors portion was subscribed 70.78 times, while the non-institutional investors portion was subscribed 384.26 times. The institutional investors portion witnessed a subscription of 77.95 times.

“We are expecting a very good listing for this IPO, we suggest retail investors to apply for this IPO for long term as well as for listing gains also. Retail investors can expect a listing gain of 50%-75%” said Angel Broking in a note on 9 March.

The ₹510 crore public issue is a complete offer for sale by promoters who currently hold 100% shareholding in the company. Promoters Nishant Pitti and Rikant Pitti are going to offload shares worth ₹255 crore each through public issue. Post offer, they will hold 75% shareholding in the company.

Analysts at Anand Rathi Research in an IPO note said “At the upper end of the IPO price band, it is offered at 58.62 times FY20 earnings, with a market cap of Rs. 2032 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% in FY20, strong balance sheet and management”.

The company offers a comprehensive range of travel-related products and services for end-to-end travel solutions, including airline tickets, hotels and holiday packages, rail tickets, bus tickets and taxis as well as ancillary value added services such as travel insurance, visa processing and tickets for activities and attractions.

This article was first published on livemint.com.