Easy Trip Planners Limited IPO - Subscribe or not?

Online travel company Easy Trip Planners’ initial public offering (IPO) opens for subscription on March 8. The company has fixed the price band at Rs 186-187 per share and aims to raise Rs 510 crore. The grey market is gung ho over the IPO, thanks to the bulls taking charge of the secondary market.

Grey market premium of the New Delhi-based company has surged to Rs 166-170 in the unofficial market, translating into as much as 90 per cent premium over the IPO price. The company operates the travel and tourism website EaseMyTrip.com.

Investors can bid for a minimum of 80 equity shares and in multiples thereafter. The three-day bidding process will close on March 10. The anchor investors portion will be opened for subscription on March 5.

Up to 75 per cent of the issue is reserved for qualified institutional buyers (QIB) and 15 per cent for non-institutional investors (NII). Merely 10 per cent of the issue is set aside for the retail investors.

• Easy Trip Planners doesn’t have any listed peers in India. Among his key competition, MakeMyTrip got listed on Nasdaq in 2010. Another peer Yatra too made its debut on Nasdaq at the end of 2016.

• Easy Trip Planners’ issue is being managed by Axis Capital and JM Financial. KFin Technologies is the registrar for the issue. The scrip will be listed on both BSE and NSE.

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