Exclusive: In chat with Anil Singhvi, Easy Trip Planners Wholetime Director Prashant Pitti speaks about business model, outlook, and mantra for profitability
Initial Public Offering (IPO) of Easy Trip Planners has been subscribed over 7 times till Tuesday. The price band of the share is Rs 186-Rs 187. This is a Rs 510 cr IPO which is an Offer For Sale (OFS) which means that the money raised through this will go to the promoters and not to the company. The promoters have 100 per cent stake in the company which will reduce to 75 per cent after the IPO
Initial Public Offering (IPO) of Easy Trip Planners has been subscribed over 7 times till Tuesday. The price band of the share is Rs 186-Rs 187. This is a Rs 510 cr IPO which is an Offer For Sale (OFS) which means that the money raised through this will go to the promoters and not to the company. The promoters have 100 per cent stake in the company which will reduce to 75 per cent after the IPO. (#NewsParViews)
In today’s edition of News Par Views, Zee Business Managing Editor Anil Singhvi spoke to Prashant Pitti, Wholetime Director of Easy Trip Planners.
See Zee Business Live TV Streaming Below:
Pitti cleared the air about the company’s name saying that the popular name is EaseMyTrip.com. He said that the company is second largest in the country in terms of air ticket volumes.
On being asked why EaseMyTrip was doing better than its peers, when many were even struggling to do break even, Pitti said that his company was not just profitable but was also the fastest growing company in the country. The gross booking volume is growing by 47 per cent year-on-year, he added.
#EasyTripPlanners के IPO में पैसा लगाने का आज आखिरी दिन
'News पर Views' में कंपनी के होलटाइम डायरेक्टर प्रशांत पिट्टी ने कहा- कंपनी ने होटल्स और होलिडेज बुकिंग पर बढ़ाया फोकस, आगे अच्छी ग्रोथ का भरोसा
देखिए पूरा इंटरव्यू: https://t.co/3hZBWEw05p#IPO @AnilSinghvi_ @EaseMyTrip pic.twitter.com/bzu9WunxIT
— Zee Business (@ZeeBusiness) March 10, 2021
EaseMyTrip in Covid
The profit margins of the company has been around 19-20 per cent over the 2-3 years but have doubled to 38 per cent during the pandemeic in the last 9 months. He attributed this to lower competition during this period. So, the discounts were less which increased the margins.
The company has also undertaken a lot of automation which has also helped, he said.
On Business Outlook
The Wholetime Director that EaseMyTrip.com is working towards growing the businesses in different segments. As the disposable income of the Indian middle-class families is growing and online is finding traction, the company expects to benefit, going forward, he further said.
When Anil Singhvi asked, "Though the company has an asset light model, does it not fear competition?". Pitti replied, "The company has established itself and the pressure was on others to get profitable."
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