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Online travel tech platform <keyword id="5030468" type="General" weightage="20" keywordseo="EaseMyTrip" source="Orion">EaseMyTrip</keyword> on Tuesday said it has acquired a 55 per cent majority <keyword id="6375562" type="General" weightage="20" keywordseo="stake" source="Orion">stake</keyword> in <keyword id="16232316" type="General" weightage="20" keywordseo="cheqin" source="Orion">cheQin</keyword> for Rs 3 crore. cheQin is a real-time marketplace, which allows travellers to bargain with hoteliers without any effort. The deal will help in strengthening EaseMyTrip's hotel channel in terms of technology, adaptability, personalisation, and the acceptance of bulk booking and long stay requests, the company said in a statement. "EaseMyTrip is focusing on the growth of its non-air segments. This acquisition is a step towards revolutionising the hotel business altogether. Through cheQin, which is a unique app in the hotels industry, we will diversify our hotel booking experience through technology support," EaseMyTrip CEO and <keyword id="170488" type="General" weightage="20" keywordseo="co-founder" source="Orion">Co-Founder</keyword> <keyword id="6106039" type="General" weightage="80" keywordseo="nishant-pitti" source="Orion">Nishant Pitti</keyword> said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-hikes-the-price-of-its-base-plan-by-57-reduces-validity-to-24-days/articleshow/97299532.cms">Airtel price hike announced – customers will have to pay 57% more for the telco’s cheapest plan</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/healthtech-unicorn-innovaccer-lays-off-245-workers-2nd-job-cut-in-5-months/articleshow/97297979.cms">Healthtech unicorn Innovaccer lays off 245 workers, 2nd job cut in 5 months</a>

EaseMyTrip acquires 55% stake in cheQin for ₹3 crore

<ul><li>EaseMyTrip recently appointed <keyword id="31515" type="General" weightage="20" keywordseo="vijay-raaz" source="Orion">Vijay Raaz</keyword> and <keyword id="337442" type="General" weightage="20" keywordseo="varun-sharma" source="Orion">Varun Sharma</keyword> as its first-ever brand ambassadors to expand its reach across the country.</li><li>As the travel platform launches its campaign with new ambassadors and rolls out its marketing blitzkrieg, we speak to <keyword id="6106039" type="General" weightage="20" keywordseo="nishant-pitti" source="Orion">Nishant Pitti</keyword>, CEO and Co-Founder, EaseMyTrip about the idea behind choosing Vijay and Varun, platform’s game plan to deal with COVID and macro-economic changes that might come in our way and larger vision.</li></ul>Six days into 2022 and brands and organisations are planning to completely return to work-from-home model and prepare for the impending wave of COVID-19 and macro-economic challenges that it might bring along. The economic impact of the third wave might not be as devastating as the second wave, but it might take a toll on the hospitality industry yet again. If the government strengthens lockdown restrictions across the country in the coming days, the hospitality sector might face a recap of 2020. However, home-grown hospitality and travel brand EaseMyTrip witnessed a six-fold growth in revenue during the peak of the second wave and on the back of its ‘flexible and lean business model,’it is optimistic about maintaining its financial health in 2022 as well. With its first-ever brand ambassadors in Vijay Raaz and Varun Sharma and a slew of customer-centric initiatives such as zero-convenience fee, full refund on medical grounds, discounted air tickets for train waitlisted customers, EaseMyTrip has entered this year all guns blazing! So, to discuss what lies ahead, Advertising and Media caught up with Nishant Pitti, CEO and Co-Founder, EaseMyTrip. He told us about his game plan for the platform in 2022, larger vision, marketing strategy and a lot more. Q. Can you tell us how 2021 was for EaseMyTrip and the travel industry? In FY20-21, we almost doubled our profits and this was despite halving of Gross Booking Revenue in a pandemic struck year. In Q4 of FY21, we witnessed a V-shaped recovery, registering almost 89% of the gross booking revenue of the corresponding quarter in the previous fiscal. Additionally, Q1FY22 was one of the worst periods for the travel industry due to the second wave, however, we grew our profits six-fold to more than Rs 15 crore in Q1FY22 as against a net profit of Rs 2.5 crore in the corresponding quarter of the previous fiscal. This makes us one of the few companies to be profitable in the industry that has been the worst impacted in the country in the quarter of April- June’21. We have been able to maintain our profitability through the pandemic as we have been flexible and maintained a lean business model, which has been the key driver in maintaining financial health. For the travel industry, the year started well as there was a strong demand. However, the second wave struck soon after, which led to a fall in travel demand. The second wave had impacted the entire tourism industry. However, the strong vaccination drive helped in lowering active cases and the industry was seeing a recovery again. The festive season further pushed travel demand as people were comfortable travelling and had adapted to the travel norms. The rise in travel bookings during this festive period was a clear sign of the underlying pent up travel demand and the growing sentiment among travellers to venture out for leisure travel. We believe that the sector has been able to weather the storm as a lull period was followed by strong growth in demand. We also witnessed a rise in travellers from smaller cities and towns which eventually led to a rise in passenger traffic and demand. Q. You have recently onboarded your first-ever brand ambassadors. Firstly, why did you think this was a good time to bring on the actors and what was the thought behind choosing Varun and Vijay? We have been witnessing strong growth, even during the pandemic, and we have been constantly innovating and providing value to the consumer. As a result, we believe that now is the right time for branding and to get more people to know about EaseMyTrip. EaseMyTrip has always believed in leveraging relevant and meaningful avenues for brand connect and this association is in-line with the same brand philosophy. We believe that Varun Sharma and Vijay Raaz are unique actors who have superb comic timing and have created a niche in the market based on their unique performances. They have a unique mass appeal that cuts across all audiences and geographies. We have consciously chosen two unique actors from two different generations as we believe that an association with both of them will help us reach our overall target audience efficiently. The association with Varun and Vijay are in sync with the brand as just like these ace actors, EaseMyTrip too has established itself and gained market share purely based on performance to date. Q. After onboarding your first-ever brand ambassadors, what are you eyeing to achieve from this partnership? The country is witnessing a growing air traffic demand, even from smaller cities now. A significant chunk of these people are digital savvy and prefer doing online bookings. Through this unique marketing campaign, we are trying to reach out to those customers and with the explosion of the internet and online booking, we believe that it is the right time to do so. Additionally, the company has aggressive plans to grow its business with a slew of customer-centric initiatives including the zero-convenience fee, full refund on medical grounds, discounted air tickets for train waitlisted customers, and many more. We believe that this initiative provides us with an opportunity to make more travellers aware of these unique initiatives and grow our customer base. Q. What is your larger marketing strategy? How will your messaging change, if at all, now that you have new brand ambassadors onboard? We aim to cater to the pent-up demand via cross-selling to the huge customer base by promoting the same aggressively across all marketing platforms. We are confident that this pent-up demand will continue to grow. We also aim to continue with our record growth across businesses and grow our market share. We emphasize high ROI marketing spending and instead of opting for very high marketing budgets, we try to source relevant platforms that can gain the maximum interest of our customers. We will continue to move in that direction in 2022 as well. While we have onboarded brand ambassadors, we do not expect our messaging to change. We have always maintained a strong messaging and unique proposition of customer centricity and consistent performance, and our brand ambassadors will continue to take that proposition ahead. Q. Which advertising medium will get your lion's share this year? With people resuming travel, we are expecting a lot more marketing efforts and initiatives in the coming year. The industry is slowly recovering, and we believe that this is the right time for us to strengthen marketing efforts and customer outreach. Seeing a recovery of the industry, in the past year, we have used big-ticket events such as IPL as well as full-page advertisements across national newspapers for marketing initiatives and will continue to explore interesting initiatives this year as well. This year, we plan to release innovative and exciting marketing efforts across digital, print and outdoor media. With the growth in passenger traffic, we will also continue to actively use in-flight branding space, as well as boarding passes as essential touchpoints for travellers. Q. What are some of the trends that you are expecting to see in the travel industry this year? In 2022, we expect a few prominent trends to surface, which are set to be at the forefront of the travel industry. 2022 is set to witness a rise in travel spending by people as they are now, more than ever, ready to take those once-in-a-lifetime trips that they always wanted to embark on. In 2022, we are also expecting more travellers to prefer locations that are adopting sustainable tourism practices as many travellers have woken up to the benefits and the need of sustainable tourism in a post-covid scenario. Technology is also being implemented in a big way in the tourism industry and travellers are showing a higher preference for places that incorporate smart technology. In 2022, the travel industry is expected to move further into a digital shift and adopt newer platforms and technologies that enable travellers to travel seamlessly. Due to the safety concerns, we are expecting a rise in demand for unique, unexplored destinations, short weekend getaways and road trips to nearby tourist destinations. Reunion travel is set to be a major trend next year as people look to reconnect with family by taking a quick getaway trip. As an aftermath of the pandemic, there will also be a rise in the number of people that are opting for short getaways that offer wellness and self-care activities. In 2022, travellers are set to showcase an increased preference for locations that have a focus on wellness activities that help them rejuvenate, take a break away from the monotony of their daily lives and lead healthier lives. Q. How did the consumer sentiment change in December and what's it usually like in January? Travel this month is majorly focused on safety. There has been a significant shift in the mindset of travellers towards health and hygiene, and the services provided by travel companies regarding this, make a significant impact on the decision making. While there are safety concerns right now, the travel sentiment of customers is still strong. There is an underlying pent-up travel demand, which is expected to lead to a growth in revenge travel. We are also ensuring safety and hygiene for our customers with the help of our airlines and hotel partners. Q. We're at that time of the year when people are normally in the mood to travel. What are some of the tourist hotspots in India this year? Have consumers shown any interest in traveling to places they wouldn’t have thought of visiting earlier? The tourist destinations that have been in demand and that we expect to be tourist hotspots this year as well include Kashmir, Goa, Jaipur, Leh and Srinagar. With safety concerns, the demand for unique, unexplored domestic destinations has also shot up in the past few months, and a lot more unheard domestic destinations will come to the fore in the coming months. Q. In India, we love saving a little extra on hotels while traveling to a different city -- a lot of people in India prefer staying at a relative's place. Has that trend changed after COVID? Yes, we believe that this trend has changed as people have witnessed the high levels of sanitisations and safety protocols undertaken by hotels since the pandemic. Since the pandemic there has been an increased emphasis on safety and sanitization within the travel industry and enhanced health screenings have become the new normal across all travel segments. As a leading travel portal, we also provide all the sanitization protocols that each hotel follows, to ensure that the travellers are aware of the practices followed. This provides them with a sense of relief during this period as safety and hygiene has become a top priority in the current period, which is not guaranteed at a relative’s place. In fact, during the pandemic, there has been an increase in 4 and 5-star hotel bookings as compared to the pre-pandemic period as people would want a better level of sanitization at this time. The average duration of the stay has also gone up from 3.2 days to 4.7 days. While hotels and apartments have performed well, we have also seen an increased demand for private villas and homestays as customers find them more secure and safe during these unprecedented times. Q. Can you tell us what would be some of your focus areas in 2022? The company plans to focus heavily on its hotel and holiday package businesses and expand in the existing markets. We are working proactively to cater to the increased demand that we foresee. We will look at enhancing the revenues and profitability going forward by leveraging our existing base of customers for cross-selling. We also plan on leveraging our vast agent network and utilizing it for the holiday bookings which shall complement the company’s hotel and holiday businesses. Apart from the Indian market, we are present across UAE, Singapore, UK, Philippines, Thailand, and the USA. We want to establish our air ticketing business in these countries as we have forayed into these new countries anticipating a huge pent-up travel demand. In the coming year, we plan to launch a localized travel search engine in each global subsidiary to strengthen our offerings within each country. We may also look to expand to more viable countries if we see a strong performance and value addition from our existing global subsidiaries. Q. What is your larger vision for the platform? We aim to continue with the record growth with increased revenue margins and market share. We have been extremely bullish in the air segment and expect to become the number one player in the air segment in the next three to four years. While air travel bookings constitute around 95% of our revenues, we are also growing our non-air travel businesses including hotels, buses, trains and holidays in double digits. We are also looking to expand our services across Tier 2 and 3 cities as we have been witnessing a rise in air ticket bookings in these cities. All in all, we are aiming to be the preferred booking partner for all travellers across the country.

Our association with Vijay Raaz and Varun Sharma will help us reach our overall target audience more efficiently: Nishant Pitti of EaseMyTrip

<ul><li>This is the first time <keyword id="5030468" type="General" weightage="100" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> has appointed brand ambassadors since its inception.</li><li>Vijay and Varun are coming together as part of a brand campaign.</li></ul>EaseMyTrip has announced the appointment of ace actors <keyword id="31515" type="General" weightage="80" keywordseo="vijay-raaz" source="Orion">Vijay Raaz</keyword> and <keyword id="337442" type="General" weightage="80" keywordseo="varun-sharma" source="Orion">Varun Sharma</keyword> as brand ambassadors. This is the first time that EaseMyTrip has appointed any brand ambassadors. Additionally, Vijay Raaz and Varun Sharma are also coming together as a duo for the first time for any brand campaign. The actors with their mass appeal and strong connect with the audience will complement the brand’s image of EaseMyTrip. The actors are admired by the fans for their genuine and down-to-earth personalities and their ability to make each and every act memorable. Vijay Raaz and Varun Sharma are also known for their impeccable comic timings and both actors have created a niche in the market basis their unique performances. The association is in sync with the brand’s image where EaseMyTrip has established itself and gained market share purely basis performance to date. The company is known for its consistent performance while being 100% bootstrapped and profitable since inception. Speaking on the occasion, Nishant Pitti, CEO &amp; Co-Founder, EaseMyTrip said, “We are thrilled to associate with Varun Sharma and Vijay Raaz as the faces of our brand. Similar to EaseMyTrip, they are the epitome of great performances. They have a unique mass appeal that cuts across all audiences and geographies. EaseMyTrip has revolutionised online travel by introducing initiatives such as a hassle-free booking experience, zero convenience fee and full refund due to medical reasons. Now is the right time for us to let more people be aware of such initiatives by EaseMyTrip through our brand campaign with Vijay Raaz and Varun Sharma.” Both the actors are elated and excited to be associated with EaseMyTrip as there is similar synergy between them making this partnership extremely special and one of a kind. Sharing his excitement on the partnership, Varun Sharma said, “I am absolutely honoured and delighted to be partnering with one of the fastest-growing brands in the world. They have revolutionized the way we travel and looking forward to working closely with EaseMyTrip to create an exceptional brand connect.” Speaking on the association, Vijay Raaz said, “My best wishes to EaseMyTrip as the brand is well known for its customer centricity and consistent performance. Wish to work together and create something memorable.”

EaseMyTrip signs Vijay Raaz and Varun Sharma as its first-ever brand ambassadors

<ul><li>The company said that the total payout of the interim dividend is ₹10.86 crore.</li><li><keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> has announced its first dividend in April 2021 almost a month after its listing.</li><li> The company reported over 330% year-on-year increase in its consolidated net profit in Q2 of 2021.</li></ul>Travel ticketing platform Easy Trip Planner — which goes by the name EaseMyTrip — has declared an interim dividend of 50% or ₹1 per equity share of the face value of ₹2 for the fiscal year 2022 that ends in March next year. The company said that the total payout of the interim dividend is ₹10.86 crore. The said dividend on equity shares will be credited to the members as per the records of the depositories as beneficial owners of the equity shares, as on November 22. The interim dividend will be paid on or before December 10, 2021. EaseMyTrip has announced its first dividend in April 2021 almost a month after its listing on the stock exchange. The latest development comes soon after EaseMyTrip announced its financial result for July to September quarter of 2021. The company reported over 330% year-on-year increase in its consolidated net profit. Its revenue also grew another 164% year-on-year to ₹59.7 crore in the July-September quarter. <div type="image" title="EaseMyTrip announces interim dividend of 50% after stellar profit growth" msid="87648383" hostid="261"></div> The financial statement also highlighted that EaseMyTrip witnessed a 2.5 times higher air bookings and 11 times higher hotel nights booking compared to previous quarter. The gross booking revenue (GBR) stood at ₹895.1 crore in the June to September quarter. “EaseMyTrip has a uniquely sustainable and profitable model and our results have consistently demonstrated this all the time. Even in this fiscal, we witnessed phenomenal growth across all segments in the H1FY22 [first half of financial year 2022]. It also reflects a strong recovery of India's travel sector, which was severely impacted by the pandemic,” Nishant Pitti, chief executive and cofounder of EaseMyTrip, said. The company offers access to more than 400 international and domestic airlines, over one million hotels as well as train/bus tickets and taxi rentals across India. EaseMyTrip was founded in 2008 and claims to have more than 11 million customers. It also has offices across India and international markets like Philippines, Singapore, Thailand, the UAE, the UK, and the USA. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomatos-investment-turns-curefit-into-indias-36th-unicorn-of-2021/articleshow/87640767.cms" data-type="tilCustomLink" style="">Cult.fit’s parent company Curefit is the 36th unicorn in town</a> <a href="https://www.businessinsider.in/business/corporates/news/zomato-has-closed-all-international-operations-in-uk-us-singapore-and-lebanon/articleshow/87639773.cms" data-type="tilCustomLink" style="">Zomato has officially pulled out of all international markets</a> <a href="https://www.businessinsider.in/business/corporates/news/nykaa-is-now-bigger-than-coal-india-britannia-irctc-and-almost-double-of-hero-motocorp/articleshow/87635312.cms" data-type="tilCustomLink" style="">Nykaa is now bigger than Coal India, Britannia, IRCTC and almost double of Hero MotoCorp</a>

EaseMyTrip announces interim dividend of 50% after stellar profit growth

<ul><li>The company’s stock was trading at around ₹714 in early trading hours on Friday.</li><li>The development comes a day after <keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> expanded its international footprint to the US, Philippines and Thailand.</li><li>The company had doubled its net profit to ₹61.4 crore in the financial year 2021.</li></ul>Publicly-listed travel ticketing app EaseMyTrip has hit $1 billion in market capitalisation earlier on Friday, September 17. The company’s stock was trading at ₹714.15 at 9:38 a.m., on Friday. That’s when the company’s market cap crossed the ₹7,300 crore threshold. Shares of the travel tech startup, which goes by the name Easy Trip Planners, were trading at ₹663.55 at 11:10 a.m., on Friday as its market cap dropped to ₹7,215 crore ($981 million). The development comes a day after EaseMyTrip expanded its international footprint in the United States, The Philippines and Thailand. The company has forayed into new countries anticipating a huge pent-up global travel demand in the coming months, the company said in its regulatory filings. Aloke Bajpai, founder and chief executive of another travel tech startup ixigo, congratulated EaseMyTrip on achieving this benchmark. Like EaseMyTrip, rival ixigo is also planning to hit the public markets this year and has filed the preliminary papers for its<a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms"> ₹1,600 crore</a> initial public offering (IPO). <div type="twitter" handle="alokebajpai" handlename="Aloke Bajpai" image="http://pbs.twimg.com/profile_images/1285439472339791873/wki9K2bg_normal.jpg" favoritecount="78" retweetcount="16" status="Congratulations to @EaseMyTrip @nishantpitti @rikantpitti @ppitti for hitting $1 Bn market cap in the public market… https://t.co/Ow4gE1YSKW" createdat="1631853920000" id="1438725735686959106"></div> Earlier this month, Anand Rathi had issued a buy call on Easy Trip Planners with a target price of ₹550. At the time, the company’s stock was trading at ₹462.35. <div type="image" title="EaseMyTrip touches market cap of a billion dollars" msid="86285944" hostid="261"></div> Founded in 2008 by Nishant Pitti, Prashant Pitti and Rikant Pitti, EaseMyTrip offers deals on flight booking, hotels and holiday packages. The company has been one of the few bootstrapped startups to hit the public market and has been profitable as well. The company even doubled its net profit to ₹61.4 crore in the financial year 2021, when the entire travel segment was brought down to its knees due to COVID-19. Its revenue, however, declined to ₹150 crore from ₹181 crore reported in FY20. SEE ALSO <a href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a> <a href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a href="https://www.businessinsider.in/business/news/biocon-biologics-to-offer-15-stake-to-serum-institute-life-sciences-at-valuation-of-4-9-billion/articleshow/86281318.cms">Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion</a>

EaseMyTrip touches market cap of a billion dollars

<ul><li>The IPO of <keyword id="5030468" type="UNKNOWN" weightage="20" keywordseo="EaseMyTrip">EaseMyTrip</keyword> will open on March 8 and remain open till March 10. </li><li>The company has set the price band for the issue at ₹186 to ₹187 per share. </li><li>The OTA offers a range of products and services for end-to-end travel solutions, from airline tickets to rail tickets and bus tickets to taxis, holiday packages, and much more. </li><li>EaseMyTrip.com is the second largest online travel agency in India in terms of booking volume in the nine months ended December 31.</li></ul>The ₹510 crore initial public offering (IPO) of India’s second-largest online travel agency EaseMyTrip.com will hit the capital markets next week. The IPO will open on March 8 and remain open till March 10. The Delhi-based online travel agency Easy Trip Planners operate EaseMyTrip.com. The offer comprises an offer for sale of up to ₹255 crore by its promoters Nishant Pitti and Rikant Pitti, holding 49.81% and 49.68%, respectively, in the company. The company has set the price band for the issue at ₹186 to ₹187 per share. The online travel agency (OTA) offers a range of products and services for end-to-end travel solutions, from airline tickets to rail tickets and bus tickets to taxis, holiday packages, hotels, and much more. This would be the tenth initial public offering this year after Indian Railway Finance Corporation (IRFC), Indigo Paints, Home First Finance Company (HFFC), Stove Kraft, Brookfield India REIT, Nureca and RailTel recently concluded their listings. Easy Trip Planners IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 8 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 10 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹186 to ₹187 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 equity shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">75% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr></tbody></table> Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital and JM Financial are the book running lead managers for its public offering IPO. Easy Trip Planners IPO: All you need to know <ul><li>According to the CRISIL Report, EaseMyTrip.com was the only profitable online travel agency among other key agencies in India in the fiscal years 2018 to 2020. The other key players in India include Cleartrip, MakeMyTrip and Yatra Online.</li><li>EaseMyTrip.com is the second largest online travel agency in India in terms of booking volume in the nine months ended December 31.</li><li>The company has been consistently profitable over the past three years, with its profit growing from ₹3 lakh in 2018 to 32.9 crores in 2020.</li><li>In terms of annual growth in operating revenues during FY 2018 to FY2020, Easy Trip Planners Limited recorded the fastest growth at a compound annual growth rate (CAGR) of approximately 19%, among key online travel agencies in India like MakeMyTrip Limited and Yatra Online.</li><li>Indian OTA industry is expected to grow at a CAGR of 1% to 2% from fiscal 2020 to fiscal 2023 in terms of gross booking revenues.</li></ul>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/instagram-accidentally-hid-likes-for-some-users-after-expanding-long-running-test-feature-says-cnn-report/articleshow/81308217.cms">Instagram accidentally hid likes for some users after expanding long-running test feature, says CNN report</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/instagram-accidentally-hid-likes-for-some-users-after-expanding-long-running-test-feature-says-cnn-report/articleshow/81308217.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/paypal-which-had-shut-down-domestic-operations-in-india-now-plans-to-hire-1000-engineers/articleshow/81307572.cms">PayPal, which had shut down domestic operations in India, now plans to hire 1,000 engineers</a>

EaseMyTrip IPO is set to open on Monday — price band for the issue set at ₹186 to ₹187 per share

New Delhi, Feb 3 () As many as four companies, including online travel firm EaseMyTrip and realty firm Puranik Builders, have received markets regulator Sebi's go-ahead to float initial public offerings.
 Construction firm Montecarlo and manufacturer of pharmaceutical chemicals Chemcon Speciality Chemicals are the other companies that obtained clearance from Sebi.
 The companies had filed draft offer documents with the Securities and Exchange Board of India (Sebi) during September-December 2019.
 According to latest update with the markets watchdog, EaseMyTrip and Puranik Builders obtained Sebi's "observations" on January 28, while the same for Montecarlo and Chemcon Speciality Chemicals was obtained on January 31.
 Sebi's observations are necessary for any company to launch public issues such as initial public offer, follow-on public offer and rights issue.
 Going by the draft papers, EaseMyTrip.com plans to float a Rs 510 crore initial public offering (IPO), through which the company's founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of Rs 255 crore through offer-for-sale mechanism.
 EaseMyTrip.com is operated by Easy Trip Planners Private Ltd.
 The IPO of Puranik Builders consists of fresh issue of shares worth Rs 810 crore, besides an offer for sale up to 18,59,620 equity shares by the company's promoters and existing shareholders.
 According to market sources, the IPO size could be estimated at Rs 1,000 crore.
 Montecarlo filed fresh papers with Sebi in September 2019 to launch an IPO comprising fresh issuance of shares worth Rs 450 crore, besides an offer for sale of up to 30 lakh equity stocks by existing shareholder Kanubhai M Patel Trust.
 According to market sources, Montecarlo's IPO size is estimated to be Rs 550 crore.
 In May 2018, Montecarlo had approached Sebi with draft prospectus seeking its approval to raise funds through initial share-sale and secured the market regulator's nod in August last year to float the public issue. However, the company did not launch the IPO.
 Chemcon Speciality Chemicals' IPO comprises of fresh issue of shares worth Rs 175 crore and an offer for sale of 43 lakh equity shares from the promoters.
 Sources pegged the company's IPO size at Rs 350 crore. SP
RVK

EaseMyTrip, Puranik Builders among 4 cos to get Sebi's go-ahead for IPO

New Delhi, May 16 () The government's announcements for civil aviation sector breathe some life into the coronavirus pandemic-hit sector and will provide overall positive sentiment, experts said on Saturday, even as some of them emphasised the need for support for airlines. On Saturday, Finance Minister Nirmala Sitharaman announced plans for managing airspace efficiently, making the country a MRO (Maintenance Repair and Overhaul) hub, and auctioning of six more airports on PPP model. GMR Group Chairman G M Rao said India is leading the growth of civil aviation sector globally and is generating significant economic impact. According to him, rationalising Indian airspace is a significant step that would benefit not only the entire sector but also bring down travel time for passengers. Privatising six new airports under public-private partnership (PPP) model would generate significant economic effect and would lead to creation of new jobs. "Likewise, tax incentives for the MRO sector will not only bring foreign investment into India and impact the economics of the airlines but will also open up new opportunities for youth to build careers. The investments being made in airports, privatised in the first two phases, are already leading to enhanced job creation in both aero and non-aero areas," he said. GMR Group manages two airports -- Delhi and Hyderabad -- through PPP model. Welcoming the announcements, GVK Group founder and Chairman G V K Reddy said the move to have PPP model for six more airports would provide the Airports Authority of India (AAI) resources to develop smaller airports across the country. "The plans to make India a global MRO hub will ensure savings of precious foreign exchange and enable Indian airlines to get their aircraft serviced locally," he said. GVK Group manages Mumbai airport through PPP model. Consultancy EY India's Transaction Partner Kuljit Singh said the announcements are good initial first steps and this might be followed by a second phase of reforms package. "... the second phase may need to have more reforms in taxes on fuel, subvention for airport charges, government guarantees for additional unsecured borrowings of private airlines etc," he noted. Law firm Cyril Amarchand Mangaldas' Partner Ajay Sawhney said that today's announcement breathe some life into the pandemic-hit civil aviation sector, but no mention of bailouts on an immediate basis may attract mixed response from the industry. "Though, easing curbs on airspace would certainly bring in long term efficiency, and on an immediate basis some relief to the airlines, but a more meaningful intervention may be required if the aviation sector is not on the recovery path soon," he noted. Travel portal EaseMyTrip.com Chairman and CEO Nishant Pitti said the announcements would definitely provide positive sentiments for the industry overall. "In addition for industry to withstand the recovery period, government will need to support the backbone, airlines, in these turbulent times through tax relief or relaxation in multiple charges paid by airlines to reduce their costs," Pitti said. Vasudevan S, Partner (Infrastructure Government and Healthcare) at consultancy KPMG in India said the aviation sector is the hardest hit because of the global pandemic with an estimated USD 500 billion loss in airline and airport revenues in FY20. Airport PPP transactions will help unlock value for AAI and state governments, given current investor interest and long-term potential of the Indian market. "Rationalising the MRO tax structure has been a long pending demand of the industry and it is good to see that happening finally, but more needs to be done to create a level playing field, attract foreign investment and make it profitable," he noted. Care Ratings Chief Economist Madan Sabnavis said aviation sector has incentives as six airports would have PPP model, but the "question is who will invest now when future of airlines is uncertain". Consultancy Deloitte India Partner Peeyush Naidu said the initiative for private sector participation for operations, management and development of airports is well-intentioned. IAS GDK RAM RVK

Govt measures will provide positive sentiment for civil aviation sector: Experts

<ul><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> on Saturday announced <keyword id="8192304" type="UNKNOWN" weightage="20" keywordseo="union-budget-2020">Union Budget 2020</keyword> which gave an impetus to the country’s digital ecosystem.</li><li>The budget came up with an optional new tax regime which could lead to lower taxes for taxpayers.</li><li>She also acknowledged the role entrepreneurs have played in creating more jobs and capital for the country.</li></ul>As Finance Minister Nirmala Sitharaman presented the Union Budget on Saturday, the industry came together to applaud the government’s digital push with the announcement of the setting aside of Rs 6,000 crore for BharatNet, to ensure low cost internet reaches every household in the country. The government also announced an optional new tax slab which has lower tax rates, although the people opting for the new tax regime will not get any exemptions. The FM also spoke about the role that entrepreneurs have played in creating jobs and bringing in more capital to the country. However, there were a few industry experts who felt that the expectations from ‘the budget were much higher and it feels like a missed opportunity.’ Here are the views of some experts: Ashish Bhasin, CEO, APAC and Chairman, India - Dentsu Aegis Network: I think this is a good budget in some ways because it has attempted to put money in the hands of the middle class through rationalisation of tax rates as well as has concentrated on looking after the agricultural sector, including introduction of best practises like storage for producers and other measures. However, I do feel that the expectations from the budget were much more and it does feel like a bit of a missed opportunity. While it is good to see that the dividend distribution tax has been abolished, I expected more on the rationalisation of direct taxes, particularly the cess introduced over and above the tax rates. It is good to see efforts being made to encourage new-age skill development as well as helping the start-ups and what's particularly interesting is the proposal to set up data centre farms all over the country. This will prepare India for the economy of tomorrow. It is also good to see attempts at simplification of taxation through digitisation but the proof of the pudding will lie in seeing its implementation on ground. It would be fair to say that at best it is a mixed budget and while there are some encouraging decisions, enough does not seem to have been done for the situation the economy is in. RS Sodhi, Managing Director of the Gujarat Cooperative Milk Marketing Federation: <keyword id="7836802" type="UNKNOWN" weightage="20" keywordseo="Budget-2020">Budget 2020</keyword>, an excellent move, will bring more investments in the dairy sector which will increase the farmers’ bargaining power to get better prices for their produce, if done properly it will create 80 lakh jobs in Rural India and 16 lakh jobs in Urban India. Anand Bhadkamkar, CEO, Dentsu Aegis Network (DAN) India: The budget has provided relief to the middle class with lower tax rates which is a welcome move, as it will provide more liquidity. On direct taxes, the abolition of DDT and introduction of a tax dispute resolution scheme is a welcome step alongside tax reliefs for startups. The budget is focusing on easing and simplification of compliance, with changes in corporate laws as well as in GST and direct taxes. However, I was expecting further simplification of cess and surcharges beyond tax rates across slabs. The proposals for development of road infrastructure, setting up data centre parks and skill development initiatives are welcome steps in addition to allocations for social welfare schemes. However, the expectations from the budget were high on the background of current economic slowdown, and as such seems to be short on matching those expectations, with no specific industry sector focused sops to provide stimulus. While the budget shows focus on long term growth and social development, overall in the current scenario it looks like a mixed budget, falling a bit short of market expectations of more corrective measures. Mukesh Kalra, Founder &amp; CEO - ETMONEY: The Finance Minister's proposal to introduce a new tax regime is a great step towards giving equal chance to every Indian in the lower income segment to maximize their post tax incomes. In the old regime, an individual supporting a larger family &amp; negligible savings was forced to pay higher tax compared to an individual supporting a smaller family or one with no dependents. This created disparity when it came to effective taxation for the former group. In the new regime, the disparity ends &amp; also frees up income in the hands of individuals to give a boost to consumption. Nishant Pitti, Co-Founder &amp; CEO, EaseMyTrip: In tune with the present government vision to encourage Indian travellers to travel more and contribute towards the nation's growth, this budget takes it a step ahead. The budget has focused on promoting tourism &amp; travel with an overall budget of Rs. 2500 crores in year 2020-21. Government aims to develop 100 more domestic airports under the UDAN scheme. To promote travel via railways, the government will focus on more Tejas type trains that will connect tourist destinations in India. The Finance Minister has also laid stress on the development of archaeological sites into iconic sites with on-site museums. Five such sites are- Rakhigarhi, Hastinapur, Shivsagar, Dholavira and Adichanallur. Government has also announced the renovation of 4 key museums. Rs,150 crore have been allocated for the ministry of culture in 2020-21. We are hopeful that this budget will open new avenues for the travel industry. Sabyasachi Mitter, Founder and Managing Director of Fulcro: The key takeaway for me has been the simplification of tax regimes as well as giving a boost to consumer and investor sentiments. The removal of DDT is a significant move and long overdue as it effectively leads to double taxation. Simplification of personal Income Tax rates by giving the option to tax payers to avail the reduced tax rates by not availing deductions is a welcome step towards a future free from the historical legacy of compliance issues. The focus on encouraging start-ups is also welcome, both in terms of giving relief to the ESOP taxation which has been increased to 5 years. The turnover of availing 100% income Tax benefit has also seen two key changes; increasing the turnover threshold to 100 crores as well as increasing the block of years from which to avail three years of exemption to 10 years from the 7 years presently. All of these will increase the cash in hand of corporates, individuals as well MSMEs leading to a spur in demand. Specifically to the digital ecosystem the aggressive plans to increase the coverage of Fiber to Home being extended to 1 lakh gram panchayats will give a significant boost to the digital ecosystem. The recognition of the need for data and therefore the policy announcement on data centre parks is also a welcome move. Anish Sarkar, CEO, Sodexo BRS India: Sodexo always believes in giving our consumers the freedom of choice; the tax proposals in the budget are also on a similar philosophy. We believe that consumers should have a higher purchasing power – while this announcement will give them the power to choose their tax structure, our consumer base will continue to benefit from the current regime. Sodexo’s solution suite goes much beyond tax-saving products; driving the digitization of corporate cafeterias &amp; factories along with digitizing expense management to achieve workplace efficiency. We are very focussed on enhancing the employee experience of our clients by creating an ecosystem of value-added benefits much beyond tax savings. Devendra Shah, Chairman, Parag Milk Foods Ltd: We happily welcome the government's big push to the India's dairy industry. We are excited to be a part of the government's plan to double India’s milk processing capacity. Strategic measures like increasing the coverage of artificial insemination and eliminating Foot and Mouth Disease (FMD) and Brucellosis in cattle will result in higher yields. While such measures are welcomed, the dairy sector also needs to ensure the yearlong availability of green fodder. We can currently import the green fodder from Australia, Canada and USA. All these collectively help in Increasing milk consumption amongst urban and rural consumers thus attracting new investments and jobs. Navin Khemka, CEO, Mediacom South Asia: What is required is more purchasing power to the Indian middle class. This will help boost demand in the sluggish economy. I hope the investment in infrastructure and kisan express helps in achieving this objective in the long run. Short term, however, I think this budget is status quo. Demand growth could be sluggish and this could continue to impact media investments by corporates. Indroneel Dutt, CFO, Cleartrip: The government has backed its vision to turn India into one of the world’s top tourism hubs by allocating INR 2,500 crore for promoting tourism in general and setting aside a sum of INR 3100 crore for the Culture Ministry to boost regional tourism. What would be wonderful is to have an empowered nodal body comprising of the Govt / OTA / airline, hotel and other industry representatives with the objective of promoting discoverability, ease of booking and fulfilment of our cultural, natural and heritage sites. Introduction of more Tejas Express type trains and the inauguration of several culturally-significant archaeological sites are other much-needed moves. We also welcome the Hon’ble FM’s proposal to develop 100 more airports as well as the doubling of the airline fleet by 2024. This calls for skilled manpower development in parallel. The aim to double the fleet to 1200 in the next 3 years will certainly accelerate the passenger growth rate. Ramesh Kaushik, VP Brand Experience at Blackberrys: The government remains committed to accelerate consumption in budget 2020. Government measures of reducing corporate tax and initiatives to boost MSME sector will definitely help accelerate industrial and corporate growth in the country. Measures like simplifying GST and income tax relief are sure to give requisite push to consumer consumption and demand thereby accelerating growth across industries. Additionally allocation of funds for infrastructural development is a welcome move clearing path for expansion. We expect more measures/announcements specific to the retail industry from the government in the coming future that will give the right impetus to the industry. Sameer Makani, Co-Founder and Managing Director, Makani Creatives: Budget 2020 aims at the betterment of all sections of the society. The key highlight is certainly the tax regime where the government has proposed alternative tax policies and new rates to benefit the taxpayers. The vision to improve the start-up scenario in the country will help in creating more job opportunities and further ensuring the economic growth. The Skill development programme will enable overall personality development In comparison to budget 2019, MSMEs will experience a 71% rise over and above the budgetary allocation. Sudhanshu Agarwal, Founder &amp; Director, Citykart: The announcements made by the government in Union Budget 2020 are a promising move to boost the income and purchasing power of people. So far, the rollout of GST has resulted in gains of about Rs.1 lakh crores to consumers, which is likely to increase further with revised GST laws being implemented from April 2020. Simplification of GST norms will be significant in inspiring consumer demand &amp; consumptions and spur industrial growth. Additionally, allocation of Rs.100 lakh crores for infrastructure development also opens growth prospects for the brands in non-metro cities. However, we feel specific measures pertaining to the retail sector have still not been fully addressed in the budget. Kunal Lakhara, VP of Finance and Operations, Pocket Aces: Budget 2020's revised fiscal deficit target of 3.8% of the GDP seems more realistic and focus on spends/benefits was required to boost the economy. The thrust on entrepreneurship and tax regulations for both startups and taxpayers is a move in the right direction. India is the third largest startup hub globally and the announcement of an investment clearance cell to provide end-to-end support to startup founders will encourage more youth to be job creators. Further, the ability to defer taxes on ESOPs will democratise wealth creation for startup employees, ensuring the right talent is benefitted. Finally, the decision to grant 100% tax exemptions to sovereign wealth funds on their investment in priority sectors will provide the much needed funding boost to the sector and create value in the longer run. Sahil Vaidya, Co- Founder &amp; Director, The Minimalist: Following the announcement of the Union Budget 2020, one thing is certain, is that the Government is heavily focused on becoming an entrepreneurial superpower. By investing in the MSME sector, the Government’s support towards new companies will go a long way in producing high growth business. Furthermore, the tax waiver on ESOPs will enable more talent to place their bets on early stage disruptive start-ups, which have the potential to become the corporates of tomorrow. Among other sectors, the Budget 2020’s focus on start-ups and technology will be a boost to companies that are doing some cutting edge design thinking to enable the best of digital products for a booming digital economy. Sanil Jain, Co-founder, CupShup: The start-up ecosystem in India is not more than a decade old and has come a long way to become the third largest in the world after USA and China. 2019 was not what we can call a good economic growth year but this budget has definitely brought some relief to start-ups. The implementation of the Investment Advisory Cell will aid new start-ups. Deferring the Taxation on ESOPs is definitely a big win as it will go a long way in acquiring and retaining quality talent. While on the other hand, decreasing direct tax to a historic low of 22% will boost export opportunities and drive growth across various industries. Nikhil Mathur, Managing Director – India, GfK: The proposal to boost rural economy, infrastructure and enhance purchasing power of middle class, if implemented well would certainly be fruitful. It could further improve the consumption of consumer durable and electronics. As per GfK data, CE-MDA category registered a volume growth of ~9% in 2019/2018. I think the market is expected to grow in the back of technology companies and given the state of economy we can be hopeful of a better future. Besides, encouraging local manufacturing of mobile phones and semiconductors may fuel the ‘Make in India’ vision.

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EaseMyTrip acquires 55% stake in cheQin for ₹3 crore

PTI

Our association with Vijay Raaz and Varun Sharma will help us reach our overall target audience more efficiently: Nishant Pitti of EaseMyTrip

Karuna Sharma

EaseMyTrip signs Vijay Raaz and Varun Sharma as its first-ever brand ambassadors

BI India Partner

EaseMyTrip announces interim dividend of 50% after stellar profit growth

Kritti Bhalla

EaseMyTrip touches market cap of a billion dollars

Kritti Bhalla

EaseMyTrip IPO is set to open on Monday — price band for the issue set at ₹186 to ₹187 per share

Navdeep Yadav

EaseMyTrip, Puranik Builders among 4 cos to get Sebi's go-ahead for IPO

PTI

Govt measures will provide positive sentiment for civil aviation sector: Experts

PTI

Industry experts share their optimism about Budget 2020

BI India Partner

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