InvestorQ : What will Ease My Trip do with the funds raised from the IPO?
natasha Samani made post
IPO

What will Ease My Trip do with the funds raised from the IPO?

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Neha Samdani answered.
2 months ago
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The company will not receive any funds from the OFS. The objective of the issue is to get the benefit of listing the shares on the stock exchanges, which will further enhance its visibility and brand and also provide liquidity for the existing shareholders.
The online travel company raised a little over Rs229cr from anchor investors, ahead of its initial share-sale.

A total of 1.22cr shares have been allocated to 35 anchor investors at Rs187 per share. It is the upper end of the price band. HSBC Global Investment funds, TATA Trustee Company, BAJAJ Allianz Life Insurance are some of the investors who have invested in the company.

The company's IPO is entirely an offer for sale. Easy Trip Planners founders Nishant Pitti and Rikant Pitti, who hold 49.81% and 49.68% stake, respectively, will each sell shares to the tune of Rs255 crore through the offer-for-sale mechanism. Post-IPO, promoter holding will come down to 74.90%.
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