InvestorQ : What was the latest status of Easy Trip IPO subscription status at the end of Monday 08 March when the IPO had opened?
Lavanya Subramanian made post

What was the latest status of Easy Trip IPO subscription status at the end of Monday 08 March when the IPO had opened?

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Anamika Sodhani answered.
6 months ago
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The Easy Trip IPO had a tremendous response on Day-1 when the issue opened for subscription on 08 March. The Easy Trip IPO is entirely an offer for sale. That means, no fresh funds will come into the company but the purpose of the IPO is to give a partial exit to the original promoters of the company. Both the promoters will be marginally reducing their stake in the company through this IPO.

At the end of Day-1 of the IPO, Easy Trip got 2.3 times subscribed with the demand largely coming from the retail portion. The issue opened on 08 March and closes for subscription on Wednesday 10 March. Easy Trip received total number of bids for 3.50 crore shares against 1.51 crore shares on offer in the IPO. Easy Trip is a travel and tourism website and is ranked among the top private tourism online enablers in the country.

Huge interest for the IPO came from retail investors with nearly 6 times oversubscription. However, unlike regular IPOs that have a 35% quote allocation for retail investors, the Easy Trip IPO only has 10% for retail. Hence the oversubscription must be looked at from that perspective. The HNI and QIB bids normally come on the last day only and that is when we would get a clear idea of the overall subscription demand.

It may be recollected that Easy Trip is selling shares in the price band of Rs.186-187 per share via this offer for sale. However, the company has already done an anchor placement to top marquee investors in the global investment marketplace at the upper end of the band. Retail portion, which has just 10% allocation, has a minimum lot size for retail at 80 shares per lot and retail applications are subject to maximum of 13 lots.

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