Ease My Trip is an Indian online travel company. It was founded in 2008 and it provides hotel bookings, air tickets, holiday packages, bus bookings, and white label services. However, the IPO of online travel company Easy Trip Planners operates Ease My Trip. On the second of bidding the IPO of the company was subscribed 7.20 times. This bidding was led primarily by retail investors. They have already fully lapped up the quota of shares reserved for them. On Wednesday it was seen that for the shares of 1,50,80,644 shares an offer the IPO received bids for 10,85,93,760 shares. This is a remarkable achievement for the company.
Easy Trip Planners Opening on Monday
As the company has a fixed price band of Rs 186-187 per share for its Rs 510 crore initial share sale. Now, this has closed at a remarkable price. On day 3 it was observed that on 11 AM the issue was 10.09 times subscribed. Those who were willing to invest they can bid for a minimum lot of 80 equity shares and in multiples thereof. The company has an issue opened for bidding on Monday, 8 March and it will close on Wednesday 10 March. And on Tuesday only the issue was subscribed 7.20 times.
Company’s distribution channel
There are mainly three distinct distribution channels of the company. They are Business to Consumers, Business to Enterprise, and Business to Customers (B2B2C). These channels provide it with a diversified customer base and a wide distribution network. The company has an amazing range of facilities for consumers. As being an online traveling company it provides good offers. The company has informed that the main revenue of the company comes from the Airline ticket booking. The main attraction of consumers towards it as they provide an option to purchase the tickets without convenience fees.
COVID-19 on the traveling industry
Due to pandemic, there are various travelling companies which are going through losses. But Easy Trip Planners have attracted consumers. The company’s net profit is Rs 30.54 crores and sales of Rs 49.27 crores in just nine months ended on 31, December 2020. It is the only profitable online agency among various other key agencies in India. Now this surge in a bid in just a few days also a profitable situation for the company.