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Easy Trip Planners Ltd IPO

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EaseMyTrip (Easy Trip Planners), second largest online travel agency is coming up with its Initial Public Offering on Monday, March 08 with the public issue comprising a issue size of up to ₹510.00 crore.

Offer Details:
The total issue size is ₹510 cr which consist entirely of offer for sale of ~2.73 cr shares at the upper end of the price band. The company will not directly receive any proceeds from the Offer.

Easy Trip Planners Ltd Promoter Holding

% Share holding

Pre-offer

Post-offer

Promoter Group

100.0

75.0

Public

-

25.0

Total

100%

100%

Easy Trip Planners Ltd IPO Subscription Details

    

Company

Easy Trip Planners Ltd

Issue Type

(Book Built Portion)

Issue Size (In ` Crore)

510.00 - 512.74

Lot Size

80 Equity shares

Open Date

08 Mar 2021

Close Date

10 Mar 2021

Offer Price

₹186 to ₹187 per equity share

DRHP

Click here

Subscription Status

Category Subscription Status Shares Offered
Qualified Institutional 77.53 Times 8,225,806
Non Institutional 382.21 Times 4,112,903
Retail Individual 70.40 Times 2,741,935
Others - -
Total 159.33 Times 15,080,644


EaseMyTrip (Easy Trip Planners) IPO Subscription Details (Day by Day)
Date QIB NII Retail Total
March-8-2021 5:00 0.00x 0.15x 12.58x 2.33x
March-9-2021 5.00 0.28x 4.05x 32.71 7.20x
March-10-2021 5.00 77.53x 382.21x 70.40x 159.33x

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About Easy Trip Planners Ltd IPO

Incorporated on June 4, 2008, Easy Trip Planners Limited offers ‘end to end’ travel solutions which include air tickets, hotels and holiday packages, rail tickets, bus tickets and taxis as well as ancillary value added services. As per industry reports, it is ranked 2nd among the Key OTAs in India in terms of booking volume during 9MFY21 and third among the Key OTAs in India in terms of GBV in FY20. Further, ETPL had had a market share of 3.1% and 4.6% of the total Indian OTA market based on GBR in FY18 and FY20, respectively. Its market share in the Indian OTA market for air-ticketing GBR was approximately 5.5% to 6.5% during FY20. Its GBV and GBR have grown at a CAGR of 51.4% and 47.0% over FY18-20 respectively.

As per the industry reports, the company is the only profitable OTA among the Key OTAs in India in FY18, FY19 and FY20 in terms of net profit margin. The company provides customers with an option of no-convenience fee which is its key strength and is able to control marketing expenses and achieve cost efficiencies which are aiding its profitability.

The company has not required any external equity infusion since its inception has managed growth entirely through internal accruals. Unlike other Indian OTA companies that are backed by and have foreign institutions as major shareholders, ETPL has India-based investors/ shareholders holding 100% of equity shares.

Revenue & Segment Information
The company’s operations are classified as Air Passage, Hotel Packages and Other services. During FY20, Air tickets accounted for ~94% of its revenue from contracts with customers while hotels and holiday packages accounted for ~5%. Within Airline tickets, B2C accounted for 86.5% of volumes, B2B2C accounted for 10.7% of volumes and B2E accounted for the balance during FY20.

 

Easy Trip Planners Ltd - Financials

Particulars

FY18

FY19

FY20

9MFY21

Revenue (₹Cr)

100

101

141

49

EBITDA %

(5.1)

(5.1)

7.2

22.7

EPS (₹)

0.6

2.7

3.0

2.8

PE (x)

307.2

69.2

61.6

--

EV/Sales (x)

19.9

19.2

13.5

--

ROAE (%)

15.1

52.4

38.9

--
Source: RHP, 5paisa Research; Relevant ratios based on post IPO o/s Shares; FY20 and onwards is Consolidated

Key Points
  • Strong and profitable business model:
    • Unlike other Key OTAs, ETPL has been profitable over FY18-20 owing to its lean operations. It has one of the better GBR/employee with lowest employee, marketing & sales promotion, and other expenses as a percentage of GBR among Key OTAs. GBR’s offer its customers with an option of no-convenience fee which aids in repeat business and customer acquisition. This is made up for via lower costs pertaining to customer inducement and promotions. These acquisition costs in relative terms are ~1/3rd of the largest peer (as % of GBR). This has enabled ETPL to record GBR CAGR of ~47% over FY18-20; highest among Key Indian OTAs.

  • Scalable operations with steady cash generation: 
    • ETPL has an asset light model which is scalable and has negative w/c cycle which results in high CFO and FCFF. Its RoAE (based on profits from continuing operations) has improved from ~15% in FY18 to 52%/39% in FY19/FY20. We believe that with gradual recovery in the overall travel segment and resultant improvement in GBR, the company can sustain ROE of ~30% over FY21E-23E.

. 
Key Risk:
  • The COVID-19 pandemic has had, and is expected to have, a material adverse effect on the travel industry and the business, financial condition, results of operations and cash flows.
  • Dependency on airline ticketing business, which generates a significant percentage of the company’s revenues and is derived from a small number of airline suppliers in India may pose as risk. The GBR generated from top five domestic airlines represented 80.71% and 75.25% of total GBR for airline tickets during FY20 and 9MFY21, respectively. The travel suppliers like GDS service providers and API service providers may lower the commissions or incentives which possess risk to the operations as the competitive intensity is already high.

 

How to apply IPO on 5paisa app?

  • Login to your 5paisa Mobile Trading App and select the issue in the current IPO section
  • Enter the number of lots and price at which you wish to apply for
  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
  • You will receive a notification to block funds in your UPI app
  • Approve the block request

Easy Trip Planners Ltd IPO Frequently Asked Questions

EaseMyTrip (Easy Trip Planners), second largest online travel agency is coming up with its Initial Public Offering on Monday, March 08 with the public issue comprising an issue size of up to ₹510.00 crore.

You can apply for the EaseMyTrip (Easy Trip Planners) IPO using any supported UPI apps. To Apply on 5paisa App follow the procedure mentioned above. For further details Click Here.

EaseMyTrip (Easy Trip Planners) IPO will open on March 08, 2021.

The Issue Size of EaseMyTrip (Easy Trip Planners) IPO is 15,080,644 Equity Shares of face value ₹2 aggregating ₹510.00

EaseMyTrip (Easy Trip Planners) IPO Lot size is 80 equity shares, that means you can apply for one lot consisting 80 equity shares.

Shares of EaseMyTrip (Easy Trip Planners) will be getting allotted on 16th March, 2021.

EaseMyTrip (Easy Trip Planners) Shares will be getting listed on 19th March, 2021.

Here is the minimum investment calculation of EaseMyTrip (Easy Trip Planners) IPO
Lot size – 80 * Issue Price ₹187 = ₹14,960 Hence the minimum investment amount required to invest in EaseMyTrip (Easy Trip Planners) IPO is 14960 As per the maximum limit that is allowed by SEBI you can apply for 13 lots.

No, one bank account one IPO application is allowed.

Cut off Price for EaseMyTrip (Easy Trip Planners) IPO is 14,960

Read more IPO FAQs

Contact Details of Easy Trip Planners Ltd IPO

Company Contact Information

Easy Trip Planners Ltd IPO
223 FIE East Delhi,
Patparganj Industrial Area,
New Delhi, Delhi 110092.

Phone: 91-11-4313 1313
Email: emt.secretarial@easymytrip.com
Website: http://www.easemytrip.com/

Easy Trip Planners Ltd IPO Register

KFin Techologies Pvt Ltd

Easy Trip Planners Ltd IPO Lead Manager(s)

  • Axis Capital Ltd
  • JM Financial Ltd

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