Travel tech platform Easy Trip Planners Ltd announced that its board has approved raising ₹500 crore through a rights issue. According to the company's regulatory filing, the board of directors has approved the issuance of equity shares on a rights basis for an amount not exceeding ₹500 crore. The board meeting where this approval was granted took place on May 13, 2026. The company, which operates under the brand EaseMyTrip, made this announcement as part of its ongoing fundraising initiatives to support future growth strategies.
The rights issue announcement comes on the back of robust FY24 financial performance, with EaseMyTrip reporting revenues of approximately ₹2,000 crore and Profit After Tax around ₹200 crore. As per the company's regulatory filing, the fully paid-up equity shares of face value of Re 1 each will be issued as security for the rights issue. However, the company has not yet determined the number of securities proposed to be issued and the issue price, which will be finalized after the board completes the terms of the rights issue. The precise number of securities and the issue price will be established following the board's finalization of the rights issue terms, as advised by the rights issue committee.
The ₹500 crore capital raise signals EaseMyTrip's intention to pursue aggressive growth strategies or potential acquisitions in the competitive online travel sector. The funds will provide the company with financial resources to expand its market presence, invest in technology, or explore new ventures. The company, which is a leading Indian Online Travel Agency (OTA) with a strong foothold focusing on affordability and wide range of travel services including flights and hotels, has a market capitalization of approximately ₹6,500 crore as of FY24 (consolidated). Existing shareholders will have the opportunity to subscribe to new shares in proportion to their current holdings, with the company's equity base expected to increase carrying potential for share dilution if existing shareholders are unable or choose not to participate.
According to the regulatory filing, the board has also authorized the appointment of necessary intermediaries to assist in the rights issue process, ensuring a smooth execution of this financial strategy. The company must now announce the 'record date' to determine eligible shareholders for the rights issue, followed by filing of the Draft Letter of Offer (DLOF) with SEBI and relevant stock exchanges as crucial regulatory steps. The terms and subscription price of the rights issue will be key determinants of its attractiveness, alongside how the raised capital is deployed by management.
