Online travel service provider,
Easy Trip Planners has made a premium listing on Friday despite the broader markets trading on a bearish note. Easy Trip is the operator of an online travel website EaseMyTrip.
On its market debut, Easy Trip listed at a 10.16% premium at Rs206 per piece on Sensex against the IPO upper price band of Rs187 per piece.
So far on Sensex today, Easy Trip has surged by nearly 25% by touching a 52-week high of Rs233.15 per piece against the IPO upper price band.
At around 10.36 am, Easy Trip was performing at Rs220.55 per piece up by Rs33.55 or 17.94% against the IPO issue price.
However, the stock gained by only 7% against the listing price of Rs206 per piece.
The equity shares of Easy Trip Planners are listed and admitted to dealings on the Sensex in the list of 'B' Group Securities.
The company launched its initial public offering (IPO) from March 08 to March 10, 2021.
The IPO recorded stellar demand from across category of investors, as the maiden was oversubscribed by 159.33 times.
The price band of the IPO was fixed at Rs186 per equity share to Rs187 per equity share.
The IPO comprised of the offer for sale (OFS) worth approximately Rs510cr which also includes the anchor portion. Promoters Nishant Pitti and Rikant Pitti will offload stakes valued up to Rs255cr each through the issue.
Easy Trip Planners incorporated in 2008, offers a wide range of travel products and services along with end-to-end travel solutions including airline tickets, rail tickets, bus tickets, taxis, holiday packages, hotels, and other value-added services i.e. travel insurance, visa processing, etc.