Easy Trip Planners to Raise Rs 500 Crore via Rights Issue

Easy Trip Planners Ltd has announced plans to raise Rs 500 crore through a rights issue. The equity shares will be issued after the board finalizes the terms. The company, known for its brand EaseMyTrip, will appoint intermediaries to facilitate the process.

Easy Trip Planners Ltd announced on Wednesday that its board has approved the raising of Rs 500 crore through a rights issue. This decision will result in the issuance of equity shares based on a rights basis, capped at Rs 500 crore, as stated in their regulatory filing.

The company operates under the brand name EaseMyTrip and plans to issue fully paid-up equity shares with a face value of Re 1 each. The precise number of securities and the issue price will be established following the board's finalization of the rights issue terms, as advised by the rights issue committee.

Additionally, the board has authorized the appointment of necessary intermediaries to assist in the rights issue process, ensuring a smooth execution of this financial strategy.