Actress Jacqueline Fernandez Bought 27,44,237 Shares of Debt-Free Stock Under Rs 20; Scrip Trades at High ROE & High ROCE
The company has a market cap of over Rs 6,000 crore with debt-free as of September 2024 and LIC owns a 2.17 per cent stake in the company.
On Monday, the shares of Easy Trip Planners Ltd gained 3.40 per cent to Rs 17.33 per share from its previous closing of Rs 16.76 per share. The stock’s 52-week high is Rs 27 and its 52-week low is Rs 14.23.
Update 1: Easy Trip Planners Limited, in its board meetings held on September 17, 2024, and November 15, 2024, finalized definitive agreements for strategic investments in three companies to diversify its business operations. On December 6, 2024, the company announced agreements with Pflege Home Health Care Center L.L.C. (49.03 per cent stake), Jeewani Hospitality Private Limited (50 per cent stake) and Planet Education Australia Pty Ltd (49 per cent stake). The acquisitions, valued at Rs 29.83 crore for Pflege, Rs 100 crore for Jeewani and Rs 39.2 crore for Planet, will be executed via equity share swaps on a preferential basis. These investments aim to expand Easy Trip Planners’ reach into medical tourism, hospitality, and international education services, subject to regulatory approvals and shareholder consent.
Pflege specializes in medical tourism and home healthcare across regions like the Indian subcontinent and Southeast Asia, with FY23 turnover at AED 41,29,257. Jeewani, incorporated in February 2024, focuses on hotel development, while Planet, based in Australia, excels in international student recruitment and related services, with an FY23-24 turnover of AUD 14,87,043. These acquisitions are expected to be completed within 3-4 months, marking a significant step in Easy Trip Planners' growth strategy.
Update 2: Easy Trip Planners Limited has announced that its board of directors has approved the issuance of 12,84,47,034 equity shares on a preferential basis for Rs 18.22 per share, aggregating to Rs 2,34,03,05,000. This issuance is subject to the approval of regulatory authorities and the company's shareholders.
The shares will be allotted to seven investors: Ms Jacqueline Genevieve Fernandez (27,44,237 shares), Jeewani Hospitality Private Limited, Rollins International Private Limited, Pflege Home Health Care Center L.L.C, Mr. Bhisham Sheoran, Mr Gagandeep Singh, and Mr Sanket Champaklal Shah. Post-allotment, Ms Fernandez will hold 0.07 per cent of the company's shares, Jeewani Hospitality will hold 1.49 per cent, Rollins International will hold 0.90 per cent, Pflege Home Health Care will hold 0.15 per cent, Mr Sheoran will hold 0.30 per cent, Mr Singh will hold 0.29 per cent and Mr Shah will hold 0.29 per cent.
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About the Company
A publicly traded Indian travel platform, EaseMyTrip is one of the largest for air ticketing and among the fastest-growing internet companies. Founded in 2008 and profitable since the beginning, they offer flights, hotels, holidays, rail & bus tickets and other travel needs with no convenience fees. They connect users to over 400 airlines, 2 million hotels, and various local transportation options, operating in India with offices in major cities and internationally through subsidiaries.
The shares of Easy Trip Planners Ltd were ex-traded on Friday, November 29, 2024, in a 1:1 bonus share issue. This means that if you purchased shares on or after this date, you would not be eligible for the bonus shares. The company has a market cap of over Rs 6,000 crore with debt-free as of September 2024 and LIC owns a 2.17 per cent stake in the company. The shares of the company have an ROE of 32 per cent and an ROCE of 44 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.