On Friday, another company’s stock was listed in the stock market. The online travel agency Easy Trip Planners entered the stock market with a premium. Easy Trip Planners shares were listed at Rs 206 per share on BSE with a premium of 10.16 per cent. At the same time, the stock was listed at Rs 212.25 with a 13.50 per cent premium on the NSE. Its issue price was Rs 187 per share. The stock listing was accompanied by a premium in the midst of volatile trading in the market.
Let us know that due to the rise in bond yields and increase in the corona in the country, the domestic stock market started on a weak Friday. In February, the Sensex and Nifty declined by 6 per cent from the alltime high. After the listing, the market cap of the company increased to Rs 2,238 crore.
IPO received good response
The IPO of the online travel agency opened for subscription on 8 March and closed on 10 March. The company has raised Rs 510 crore from the issue. The price band of the IPO was Rs 186–187 per share. The IPO of Easy Trip Planners received good response. The IPO was subscribed 159 times. The share of qualified institutional buyers (QIBs) was subscribed 77.53 times.
Pressure created on stock
The effect of weakness in the stock market is being seen on the shares of Easy Trip Planners. The stock is trading at Rs 202.75 with a weakness of 1.58 per cent from the listing price. During the business, it had reached a high of Rs 233.15.
The company has been in profit for three consecutive years
Easy Trip Planners, the second largest online travel agency in the country, has been in profit for three consecutive years. The company’s profit increased to Rs 35 crore in the last financial year. The company had a profit of Rs 7 crore in FY 2018.