Online travel portal EaseMyTrip has filed draft papers with capital markets regulator SEBI to float a ₹510 crore IPO (Initial Public Offering)
EaseMyTrip founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of ₹255 crore through offer-for-sale mechanism through the IPO, According to draft papers filed with the Securities and Exchange Board of India (Sebi).
EaseMyTrip.com is operated by Easy Trip Planners Private Ltd.
The Delhi based company said the object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges.
“Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders,” it added.
The company’s issue is being managed by Axis Capital and JM Financial.
Founded in 2008, EaseMyTrip 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.
In 2010, online travel company MakeMyTrip got listed on the Nasdaq.
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