This tech IPO delivered 298 per cent multibagger returns to its investors!
Since its launch on March 19, 2021, EaseMyTrip has provided spectacular returns to its investors.
Nearly a year after its debut, EaseMyTrip or Easy Trip Planners IPO gave its investors a return of 298 per cent! On August 4, EaseMyTrip's share price soared 10 per cent. Its stock price on Thursday reached a high of Rs 414.75 on NSE.
Since its launch on March 19, 2021, EaseMyTrip has provided spectacular returns to its investors. While several new-age internet companies, including Zomato, Paytm, CarTrade Tech, etc., have fallen short of investors' expectations, EaseMyTrip IPO has given its lucky allottees a return of 298 per cent.
In March 2021, EaseMyTrip's public offering was offered in the Indian primary markets at a price range of Rs 186 to Rs 187 per equity share. On March 19, 2021, the share price of EaseMyTrip began trading on the Indian bourses at a premium of close to 13 per cent. It debuted on BSE for Rs 206 per equity share while NSE debuted it at Rs 212 per equity share. The allottees, who received EaseMyTrip shares during the IPO launch, actually paid Rs 93.50 (187/2) per share, as the firm declared a 1:1 bonus share, following its listing. This indicates that the tech IPO gave the fortunate allottees, who received shares of the tech IPO during the share allotment process, a return of around 298 per cent!
EaseMyTrip reported a 125 per cent increase in profit after tax (PAT) from Q1FY22 to Q1FY23, going from Rs 14.9 crore to Rs 33.7 crore. The provider of travel services recorded an increase in gross booking revenue (GBR) of almost 366 per cent YoY from Rs 356.7 crore to Rs 1,663.1 crore. Bookings for the company's air sector increased by 212 per cent while those for hotel stays climbed 409 per cent, and those for trains, buses & other services surged 132 per cent in June 2022 quarter.
EaseMyTrip joined the elite group of India's first 100 unicorns when its market valuation exceeded $1 billion in September 2021, making it one of the very few listed consumer internet firms in the world to achieve unicorn status while being totally bootstrapped.