EaseMy Trip is all set to launch a 510 crore IPO by end of March, according to a report published by Mint.
Even as the company faces the challenge of convincing the investors during the time when the tourism industry is struggling due to the impact of COVID-19, the start of vaccination process and steady increase in domestic tourism has raised hopes for the full recovery of the tourism in the times to come.
“The impact of covid-19 has significantly reduced travel demand in terms of consumer sentiment and their ability to travel, which has caused airlines and hotels in India and around the world to operate at significantly reduced service levels,” the company said in an earlier disclosure to SEBI.
The proposed IPO will have the promoters of the company selling a portion of their holdings through an offer for sale OFS. The company won’t look to raise fresh capital. An OFS involves a sale of shares by an existing shareholder.