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.
NEW DELHI: The initial public offer (IPO) of Easy Trip Planners will open for subscription on Monday, in which the company s promoters seek to raise Rs 510 crore from the primary market.
The issue mostly comprises a share sale by promoters, and the company will not get any amount from the IPO.
In the grey market, shares of the company were trading at a premium as high as 90 per cent, suggesting investors are bullish on its prospect in the secondary market .
Here are key things to know about the issue:
The Easy Trip Planners IPO will open for subscription on Monday, March 8, and close on Wednesday, March 10.