Easy Trip Planners IPO to open on March 8, price band fixed at Rs 186 to Rs 187

Online travel agency Easy Trip Planners will launch its initial public offer (IPO) on March 8 this year. The firm has fixed a price band of Rs 186-187 per share. Lot size for the IPO is a minimum of 80 equity shares and in multiples of 80 shares thereafter. 

For buying one lot, one will have to spend Rs 14,960. A maximum 13 lots comprising 1,040 shares are available in the IPO for which Rs 1,94,480 will have to be spent.

Easy Trips plans to collect Rs 510 crore through the IPO which is a complete offer for sale. The firm's promoters Nishant Pitti and Rikant Pittie will sell up to Rs 255 crore worth of shares each via offer for sale.

Promoters held 49.81 percent and 49.68 percent stake, respectively in the company. The issue will close on March 10, 2021. JM Financial Consultants Private Limited and Axis Capital Limited are the lead managers to the IPO. KFintech Private Limited is the registrar of the IPO.

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Easy Trip is one of the leading travel agencies in India. The firm offers a range of online traveling services through its website and Ease My Trip android and iOS mobile app.

The company follows B2B2C (business to business to customer), B2C (business to customer), and B2E (business to enterprise) distribution channels to offers its services.