Penny Stock Under Rs 10 Jumps as Company Plans Strategic Capital Raise Up to Rs 500 Crore
Kiran DSIJCategories: Penny Stocks, Trending
The shares of the company have an ROE of 16 per cent and an ROCE of 21 per cent.
On Monday, the shares of Easy Trip Planners Ltd jumped 12.71 per cent to Rs 7.45 per share from its previous closing of Rs 6.61 per share. The stock’s 52-week high is Rs 14.02 and its 52-week low is Rs 6.11. The shares of the company saw a Spurt in Volume by more than 4 times on the BSE.
EaseMyTrip has announced a strategic move to raise up to Rs 500 crore to accelerate its growth momentum and fortify its financial standing. The company’s Board has given in-principle approval to raise these funds through equity shares or other eligible securities, which may be executed via rights issues, qualified institutions placements (QIPs), or preferential allotments. This capital infusion is designed to provide the travel-tech major with the necessary fiscal flexibility to pursue long-term business priorities while maintaining a disciplined approach to capital allocation.
The primary objective of this fundraiser is to scale EaseMyTrip’s presence in high-potential segments, with a specific focus on expanding its hotels and holidays portfolio. By investing in advanced technology and platform enhancements, the company aims to build a more robust, integrated travel ecosystem. These resources will also enable the platform to explore strategic opportunities and deepen supply partnerships, further diversifying its revenue streams across both air and non-air categories
About the Company
EaseMyTrip (listed on NSE and BSE) is one of India’s largest online travel-tech platforms in terms of air ticket bookings, as per the Crisil Report–AssesSMEnt of the OTA Industry in India (Feb 2021). Bootstrapped and profitable since its inception, the company is one of the leading online travel-tech platforms in the country, delivering consistent profitability and industry-leading EBITDA margins. EaseMyTrip offers end-to-end travel solutions including flights, hotels, holiday packages, trains, buses, cabs, and ancillary travel services.
It is also one of the only OTAs in India to offer customers a zero-convenience fee option. The platform provides access to over 400 international and domestic airlines and 2.9 million+ hotels worldwide, along with train, bus, and cab bookings. Founded in 2008, EaseMyTrip is headquartered in Delhi with offices across Noida, Gurugram, Bengaluru, and Mumbai, and has an expanding international presence through subsidiaries in the Philippines, Singapore, Thailand, the UAE, the UK, the USA, New Zealand, Saudi Arabia, and Brazil.
The company has a market cap of over Rs 2,700 crore and LIC owns a 2.36 per cent stake in the company. The shares of the company have an ROE of 16 per cent and an ROCE of 21 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.