EaseMyTrip plans for Rs 700 crore IPO

EaseMyTrip, which is an online travel company, has now filed draft papers with the capital market regulators Sebi to float an INR 510 crore IPO.
Via the IPO, the company founders Rikant and Nishant will each sell shares to the tune of INR 255 crore via offer for sale mechanism, according to the draft papers filed with the Securities and Exchange Board of India (SEBI).
EaseMyTrip is owned and operated by the Easy Trip Planners Private Limited. The city-based company said that 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 is going to be managed by the JM Financial and Axis Capital.
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Source: Techstory