EaseMyTrip Secures Approval for ₹500 Crore Rights Issue Fundraise
EaseMyTrip board approves ₹500 crore fundraise through rights issue
Business Standard
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EaseMyTrip, operated by Easy Trip Planners Ltd, has received board approval to raise ₹500 crore (approximately $60 million USD) through a rights issue. The company will issue equity shares, with specifics on the number and price to be finalized by the board.
- 01EaseMyTrip plans to raise ₹500 crore through a rights issue.
- 02The rights issue will involve fully paid-up equity shares with a face value of Re 1 each.
- 03The exact number of shares and issue price will be determined later.
- 04The appointment of necessary intermediaries for the rights issue has been approved.
- 05This fundraising aims to strengthen the company's financial position.
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Easy Trip Planners Ltd, the parent company of travel tech platform EaseMyTrip, has approved a ₹500 crore (approximately $60 million USD) fundraising initiative through a rights issue. The board of directors has sanctioned the issuance of equity shares on a rights basis, although the specific number of shares and the issue price will be determined later, following recommendations from the rights issue committee. Additionally, the board has approved the appointment of necessary intermediaries to facilitate this rights issue. This move is expected to enhance the company's financial stability and support its growth initiatives.
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The successful completion of this rights issue could provide EaseMyTrip with additional capital to invest in technology and services, potentially leading to improved customer offerings and operational efficiency.
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