Easy Trip Planners Limited IPO: Date, Price, GMP, Review & Key Insights

Easy Trip Planners is the company behind the online travel booking portal EaseMyTrip.com. The company offers a comprehensive range of travel-related products and services for end-to-end travel solutions, including airline tickets, hotels and holiday packages, rail tickets, bus tickets and taxis as well as ancillary value-added services such as travel insurance, visa processing and tickets for activities and attractions.

As of 30 November 2019, it provided customers with access to more than 400 international and domestic airlines, more than 1,096,400 hotels in India and in international jurisdictions, almost all the railway stations in India as well as bus tickets to and taxi rentals for major cities in India.

The company is among the leading online travel agencies in India in terms of gross booking revenues and had a market share of approximately 3.8%, and 4.5% to 5% in terms of gross booking revenues and gross booking revenues for the airline ticketing segment in India during FY2019.

The company focuses on the B2B2C (business to business to customer), B2C (business to customer), and B2E (business to enterprise) distribution channels.

Product Portfolio:

The company’s products and services are organized primarily in the following segments:

Airline tickets, which consist of the sale of airline tickets as well as airline tickets sold as part of the holiday packages; Hotels and holiday packages, which consist of standalone sales of hotel rooms as well as travel packages (which may include hotel rooms, cruises, travel insurance, and visa processing); and Other services, which consist of rail tickets, bus tickets, taxi rentals and ancillary value-added services such as travel insurance, visa processing and tickets for activities and attractions.

Strengths of the Company

One of the leading online travel agencies in India.
Strong brand name and distribution network.
In-house advanced technology infrastructure.
Consistent financial track record and operational performance.

RISKS RELATING TO BUSINESS

Any impact on airline bookings can adversely impact the revenue of the company.
Any reduction in the commission of GDS and API service providers can affect the company’s business and growth.
Any disruption to the supply of air, train, and bus tickets could adversely affect operations, turnover, and profitability.
Any failure to maintain the quality of customer service and deal with complaints could adversely affect its business and operating results.

IPO Details:

IPO Date March 8th, 2021 to March 10th, 2021 Issue Type Book Built Issue IPO Issue Size Eq Shares of ₹2(aggregating up to ₹510.00 Cr) Fresh Issue NIL Offer for Sale Eq Shares of ₹2(aggregating up to ₹510.00 Cr)Face ValueRs.2 per equity share IPO Price Rs.186 to Rs.187per equity share Min Order Quantity 80 Listing At BSE, NSE

IPO Objective:

To achieve the benefits of listing the equity shares on the stock exchange
To execute the sale of up to 2,72,72,727equity shares by the promoter selling shareholders aggregating up to Rs.510 Cr

Financial Performance:

Easy Trip Planners’ financial performance (in INR crore)FY2018FY2019FY20209M FY2021Revenue113.6151.1179.781.6Expenses103109.9132.239.7Net income02434.631.1Net margin (%)015.919.338.1

Tentative Time Table:

Price Band announced on 3 March 2021
Ease My Trip IPO Anchor List on 7 March 2021
Ease My Trip IPO Opens on 8 March 2021
Ease My Trip IPO Closes on 10 March 2021
Ease My Trip IPO Allotment on 16 March 2021
Unblocking of ASBA 17 March 2021
Credit to Demat Accounts 18 March 2021
Ease My Trip IPO Listing on 19 March 2021

Outlook :

Easy Trip Planners is the second largest online travel agency in India in terms of volume and 3rd largest in terms of revenues. Easy Trip Planners has the lowest sales and marketing expense as a percentage of its gross booking revenues in 2020 as per a report by CRISIL.

The Indian travel industry is expected to grow at a CAGR of 2% from Fiscal 2020 to Fiscal 2023. As people have slowly started resuming air travel after the COVID-19, the air ticketing segment is expected to grow at a CAGR of 1.5% by Fiscal 2023.

Increasing penetration of the internet and smartphones is expected to continue aiding the growth in this segment, the impact of the pandemic might take some time to wear off.

Easy Trip Planners have stable revenue growth over the last 3 years and it is generating consistent and improved margins. Over FY17-20, Company saw a 31.7% CAGR rise in the gross booking revenue which is led by a 52.4% CAGR growth in the gross booking volume. PAT from operations increased by 23.6% CAGR over FY17-20.

At an EPS of 3.19 and at an upper price band of 187, the PE ratio would be 58.62, however as per the RHP company does not have any peers thus it is ascertained whether the issue price is underpriced or overpriced. The company’s net profit margin in FY2020 is 19.3%.

The company is further claiming to be using sophisticated technology which will help in improving the margins growing further. Thus, the fundamentals of the company would also be improving.

DISCLAIMER:

^{The information contained herein are strictly confidential and are meant solely for the information of the recipient and shall not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written permission of Swastika Investmart Ltd. (“SIL”). The contents of this document are for information purpose only. This document is not an investment advice and must not alone be taken as the basis for an investment decision. Before taking any decision to invest, the recipient of this document must read carefully the Red Herring Prospectus (“RHP”) issued to know the details of IPO and various risks and uncertainties associated with the investment in the IPO of the Company. All recipients of this document must before acting on the given information/details, make their own investigation and apply independent judgment based on their specific investment objectives and financial position. They can also seek appropriate professional advice from their own legal and tax consultants, advisors, etc. to understand the risks and investment considerations arising from such investment. The investor should possess appropriate resources to analyze such investment and the suitability of such investment to such investor’s particular circumstances before making any decisions on the investment. The Investor shall be solely responsible for any action taken based on this document. SIL shall not be liable for any direct or indirect losses arising from the use of the information contained in this document and accept no responsibility for statements made otherwise issued or any other source of information received by the investor and the investor would be doing so at his/her/its own risk. The information contained in this document should not be construed as forecast or promise or guarantee or assurance of any kind. The investors are not being offered any assurance or guaranteed or fixed returns on their investments. The users of this document must bear in mind that past performances if any, are not indicative of future results. The actual returns on investment may be materially different than the past. Investments in Securities market products and instruments including in the IPO of the Company are highly risky and they are generally not an appropriate avenue for someone with limited resources/ limited investment and low risk tolerance. Such Investments are subject to market risks including, without limitation, price, volatility and liquidity and capital risks. Therefore, the users of this document must carefully consider all the information given in the RHP including the risks factors before making any investment in the Equity Shares of the Company.Swastika Investmart Ltd or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither Swastika Investmart Ltd nor Research Analysts have any material conflict of interest at the time of publication of this report. Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. Swastika Investment Ltd may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. Research entity has not been engaged in market making activity for the subject company. Research analyst has not served as an officer, director or employee of the subject company. We have not received any compensation/benefits from the Subject Company or third party in connection with the Research Report.CORPORATE & ADMINISTRATIVE OFFICE - 48, Jaora Compound, M.Y.H. Road, Indore - 452 001 | Phone 0731 - 6644000Compliance Officer: Ms. Sheetal Duraphe Email: compliance@swastika.co.in Phone: (0731) 6644 241Swastika Investmart Limited, SEBI Reg. No. : NSE/BSE/MSEI: INZ000192732 Merchant Banking: INM000012102 Investment Adviser: INA000009843 MCX/NCDEX: INZ000072532 CDSL/NSDL: IN-DP-115-2015 RBI Reg. No.: B-03-00174 IRDA Reg. No.: 713.}

Step : 1

Step : 2

Step : 3

Step : 1

Step : 2

Step : 3

SUB - BROKER
DASHBOARD

KYC
DASHBOARD

DOWNLOAD DEALER
SOFTWARE

WEB TRADING

MOBILE TRADING

BACKOFFICE REPORTS

MAIL

KYC DASHBOARD

CRM

BRANCH
BACKOFFICE

SWASTIKA PEOPLE

DOWNLOAD s

Easy Trip Planners Limited IPO