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Easy Trip Planners Prospectus: Most revenue comes from air ticketing

EasyTrip Planners Ltd. listed publicly last week with an offer of ₹510 crore, with the issue being entirely an offer for sale. Founders Nishant and Rikant Pitti, who hold more than 49% stake each, will sell shares to the tune of ₹255 crore each. The IPO of the company, which operates EaseMyTrip.com, was subscribed 160 times on the final day. The company said the objective of the IPO is to enhance visibility, brand, and provide liquidity to existing shareholders. The offer stood at 2.7 crore equity shares at a price band of ₹186 to ₹187. Founded in 2008, EasyTrip Planners offers air ticketing, hotels and holiday packages, bus and rail services, catering to domestic and international customers. It also providers ancillary travel services such as visa processing and travel insurance. EaseMyTrip claims a 4.6% market share of the online travel agency industry in India, with 5.5% market share in domestic air ticketing. Ahead of the IPO, the company had raised ₹229.5 crore from anchor investors at ₹187 per share, including from HSBC Global Investment Funds, Nomura, Tata Trustee Company, Aditya Birla Sunlife Insurance Company, Sundaram Mutual Fund, Bajaj Allianz Life Insurance Company and Nippon Life India Trustee Company. We have summarised EasyTrip Planners Ltd.'s prospectus below. Operational Highlights 22.58 million visits in FY18, 51.59 million in FY20, 28.16 million in nine months ended Dec 30, 2020  Air ticketing booking volumes via mobile app grew by 84.8% from 1.06 million in FY19 to 1.95 million in FY20  The company works with…

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