NEW DELHI: The initial public offer of Easy Trip Planners was oversubscribed on on Monday, the first day of bidding, led primarily by retail investors.
By 5 pm, the IPO had received 3,51,05,760 bids so far on the first day, a subscription of 2.33 times compared with the issue size of 1,50,80,644 shares. The issue closes on Wednesday.
The issue is entirely an offer for sale (OFS) by two promoters, who are offering Rs 255 crore worth of shares each, in the price band of Rs 186-187. The IPO is valued at 58.7 times the company s FY20 earnings, and 49 times the FY21 earnings on an annualised basis.