Easy Trip Planners, like is the trend nowadays, was listed on the BSE at Rs.206 v/s IPO price of Rs.187 and from there, it went to Rs.233 and is now trading at Rs.204 levels.
The Rs.510 crore IPO has got a strong response, seeing 159 times subscription. HNIs witnessed the biggest response at 382 times, followed by qualified institutional buyers at 77 times and retail investors at 70 times.
The company’s IPO was entirely an offer for sale by its founders. In our New Issue Analysis, we had concluded, “Growth is not a concern for the company, but the quality is, especially on the corporate governance side. If one wants to bet on the stock purely for listing gains, one can apply to the issue, but one must be aware of the risk that this is clearly not a portfolio stock.”