Easy Trip Planners IPO subscribed 7.20 times on Day 2

The initial public offer of Easy Trip Planners Limited was subscribed 7.20 times on Tuesday, the second day of subscription.

The Rs 510-crore issue received bids for 10,85,93,760 shares against 1,50,80,644 shares on offer, as per data available with the NSE.

The portion meant for qualified institutional buyers (QIBs) was subscribed 28 per cent, while those for non-institutional investors 4.05 times and retail individual investors (RIIs) 32.71 times.

The initial public offer (IPO) comprises an offer for sale aggregating up to Rs 510 crore and is in a price range of Rs 186-187 per share.

Easy Trip Planners on Friday raised a little over Rs 229 crore from anchor investors.

EaseMyTrip.com is operated by Easy Trip Planners Private Ltd. Through the IPO, the company's founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of Rs 255 crore through the offer-for-sale mechanism. Nishant Pitti and Rikant Pitti hold 49.81 per cent and 49.68 per cent stake, respectively, in the company.

Founded in 2008, Easy Trip Planners is an online travel agency market with offices across various Indian cities, including Noida, Bengaluru, Mumbai and Hyderabad.

Its international offices (as subsidiary companies) are located in Singapore, the UAE and the UK. Axis Capital Limited and JM Financial Limited are the managers of the offer.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)