Easy Trip Planners IPO subscribed 2.33 occasions on Day 1: Here’s all the pieces you have to know

The preliminary public providing (IPO) of Easy Trip Planners, which operates the web journey platform EaseMyTrip.com, opened for subscription earlier as we speak and obtained oversubscribed inside a couple of hours itself. So far, the problem was subscribed 2.33 occasions by the tip of the primary day of bidding.
It obtained a requirement for 3,51,05,760 shares throughout each the inventory exchanges in opposition to 1,50,80,644 shares on provide, information from National Stock Exchange (NSE) confirmed.
The firm permits its prospects to ebook flights, trains, buses and extra. It affords its companies by its web site and EaseMyTrip cell app on Android and iOS platforms.

The Easy Trip Planners IPO will probably be accessible for subscription until Wednesday, March 10, 2021, and the value band of the East Delhi-based agency has been fastened at Rs 186-187 per share. The public subject is anticipated to fetch as much as Rs 510 crore on the higher finish of the value band.
Investors who want to subscribe to Easy Trip Planners IPO can bid in loads of 80 fairness shares and multiples thereafter. At the higher value band, they are going to be shelling out Rs 14,960 to get a single lot of Easy Trip Planners. The shares will probably be listed on each BSE in addition to the National Stock Exchange (NSE).
The candidates also needs to notice that the cut-off time for UPI mandate affirmation is Friday, March 12, 2021, upto 12:00 pm. If they fail to take action then their software will not be thought of.
Easy Trip Planners IPO is totally an offer-for-sale (OFS) by which its founders Nishant Pitti and Rikant Pitti will every promote shares to the tune of Rs 255 crore. Nishant Pitti and Rikant Pitti maintain 49.81 per cent and 49.68 per cent stake, respectively, within the firm.
The object of the general public subject is to realize the advantages of itemizing the fairness shares on inventory exchanges. Easy Trip Planners expects that itemizing the fairness shares will improve its visibility and model and supply liquidity to its present shareholders.
Axis Capital and JM Financial are the ebook working lead managers to the EaseMyTrip IPO whereas KFin Technologies is the registrar of the problem.
The analysis groups at Geojit Financial Services, Motilal Oswal Financial Services and Anand Rathi Share and Stock Brokers of their respective notes have all beneficial “Subscribe” to the provide.
Geojit Research in its IPO notice stated, “At the upper price band of Rs 187, ETPL is available at P/E of 49x (annualized basis on FY21E EPS of Rs.3.8) which is fairly priced. With no listed peers and as travel business is expected to pick up its charm going forward, we assign a “Subscribe” score for the problem on a long-term foundation contemplating the extensive distribution community, rising digitalization, negligible debt and asset mild enterprise mannequin of the corporate.”

Motilal Oswal Retail Research in its IPO notice said that, “We like ETPL given its lean business model, differentiated offering and strong customer connect. However the travel industry which was significantly impacted due to Covid-19, is likely to take much longer time to revive; though recovery is visible and vaccination drive would further propel it. The issue is valued at 49.9x FY21E P/E on an annualized basis. Being the first in the segment to get listed in India, ETPL could generate high investor interest. Thus we recommend Subscribe to the IPO.”