EaseMyTrip Secures INR 234 Cr Investment Through Preferential Equity Issue

Online travel platform easemytrip has received board approval to raise INR 234.03 crore from seven investors via a preferential equity issue.

The board has approved the issuance of 12.84 crore fully paid-up equity shares at an issue price of INR 18.22 per share, subject to regulatory and stakeholder approvals.

 Key Details of the Allotment:  

- Jeewani Hospitality Private: 5.48 crore shares worth INR 100 crore.  
- Rollins International Private Limited: 3.29 crore shares valued at INR 60 crore (non-cash consideration).  
- Pflege Home Health Care Center L.L.C: 54.88 lakh shares worth INR 10 crore (non-cash consideration).  
- Jacqueline Fernandez: 27.44 lakh shares worth INR 5 crore (cash consideration).  
- Bhisham Sheoran: 1.08 crore shares worth INR 19.83 crore.  
- Gagandeep Singh and Sanket Champaklal Shah: 1.07 crore shares each, valued at INR 19.60 crore (non-cash consideration).  

Following the announcement, EaseMyTrip's shares rose 3.4% to INR 17.33 on the BSE, with a market capitalization of INR 6,046.20 crore.

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Financial Performance:  

- Q2 FY25 Net Profit: Declined 42.8 percent YoY to INR 26.8 crore.  
- Revenue: Increased 2.1 percent YoY to INR 144.6 crore.  
- EBITDA: Stood at INR 42.3 crore.  
- Gross Booking Revenue: Rose 2 percent YoY to INR 2,075.6 crore.  
- Flight Booking Revenue: Dropped 22.5percent YoY to INR 9.25 crore.  
- Hotel Business Revenue: Surged 140 percent YoY to INR 32.6 crore.

Strategic Expansion:  

EaseMyTrip continues its diversification strategy through acquisitions. In November 2024 it announced plans to acquire:  

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- A 49 percent stake in Planet Education Australia for INR 39.20 crore.  
- A 50 percent stake in Jeewani Hospitality for INR 100 crore.  

The preferential issue reflects EaseMyTrips push for growth and diversification amid mixed financial performance.

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