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Online travel service provider Easy Trip Planners is planning to raise up to INR 1,000 crore through a preferential issue. The board of directors of the company, at its meeting held on Tuesday, has given in-principle approval for the fundraising proposal, Easy Trip Planners, which operates under the brand EaseMyTrip, the company said in a regulatory filing.
The company further said that the board’s in-principle approval pertains to “identifying the optimum combination of equity shares and/or warrants convertible into equivalent number of equity shares of the company to be issued on preferential basis for raising funds up to INR 1,000 crore.”
The exercise will be on such terms and conditions as may be determined by the board in accordance with SEBI regulations and other applicable laws and to identify the list of proposed allottees for the aforesaid purpose, it added.
Travelling to offbeat destinations was a hit this year, said Nishant Pitti, CEO of EaseMyTrip, adding that places like Vietnam, Seychelles, Azerbaijan, Kazakhstan and more emerged as the go-to travel destinations. In terms of bookings, both summer and winter travel spiked in 2023. Domestic flight and travel bookings witnessed an uptick of 20-25 per cent in the travel segment.
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