The Shares of Easy Trip Planners got listed on the bourses on Friday, March 19, with a premium of 13.5 percent at Rs 212.25 per share on the National Stock Exchange (NSE) compared to the issue price of Rs 187 per share. However, on BSE, it was listed at Rs 206 per share witnessing a hike of 10.16 percent.
The initial public offering worth Rs 510 crore was opened on 8 March and concluded on 10 March. The issue received a massive 159.33 times bids in its three-day bidding process. The price band was fixed at Rs 186-Rs 187 per share.
On the third and final day of the bidding process, the public offering received 78 times subscription for qualified institutional buyers (QIBs) followed by 384 times in the non-institutional investors’ category. The retail investors’ category was subscribed 70.78 times.
Also, the Easy Trip Planners IPO was a complete offer for sale by the promoters of the company who currently hold 100 percent shareholding in it. The company’s founders Nishant Pitti and Rikant Pitti will be selling shares worth Rs 255 crore each via the IPO.
According to reports, Nishant holds a 49.81 percent stake while Rikant holds a 49.68 percent stake in the company and after the IPO they will be holding 75 percent stakes in the company. The public issue was made mainly to utilize the fundings to achieve share listing benefits.