Will Easy Outing Planners create a stellar debut on March 19? Examine what grey market signals


The Rs 510-crore IPO of the firm, that ran from March 8-11, used to be overall subscribed 159.33 times.

Sunil Shankar Matkar

March 18, 2021 / 11: 01 PM IST

The public issue was a complete offer for sale (OFS) by its promoters Nishant Pitti and Rikant Pitti, who sold shares worth Rs 255 crore each through the offer.

The general public advise used to be a entire offer for sale (OFS) by its promoters Nishant Pitti and Rikant Pitti, who supplied shares rate Rs 255 crore each and each by the offer.

On-line droop agency Easy Outing Planners is predicted to debut at 50 p.c top rate on the bourses on March 19 and the maximum itemizing top rate will be around 80-90 p.c, exclaim consultants.

This is able to maybe perhaps be the 10th stock itemizing of the calendar year 2021, after Indian Railway Finance Corporation, Indigo Paints, House First Finance Firm, Range Kraft, Brookfield India REIT, Nureca, RailTel Corporation, Heranba Industries and MTAR Technologies.

Easy Outing Planners shares traded at more than 80 p.c top rate within the grey market. As per the IPO Look recordsdata, the fresh top rate stood at Rs 150 - Rs 160, taking the procuring and selling label to Rs 337-Rs 347 against the last advise label of Rs 187 per portion.

The grey market is an unofficial procuring and selling setup, the place a firm's shares are uncover and supplied by merchants unofficially, sooner than the stock gets listed on the exchanges after the firm's IPO.

The Rs 510-crore public advise witnessed a subscription of 159.33 times in some unspecified time in the future of March 8-10, 2021. Retail and qualified institutional shoppers' quota were subscribed more than 70 times each and each.

Consultants feel the anticipated extensive itemizing top rate is basically on the aid of firm's stable fundamentals because it is basically in all probability the greatest winning on-line droop agency.

"With shoppers' enthusiasm within the predominant market and high liquidity for fundamental complications, Easy Outing Planners offer noticed excellent assign a query to on the closing day of bidding from the non-institutional shoppers who've assign in 382 times more bids than their reserved fragment. Having a examine the stable subscription assign a query to, one can inquire a bumper itemizing with a minimum 80-90 p.c top rate on the problem label of Rs 187," Prashanth Tapse, AVP Research at Mehta Equities told Moneycontrol.

The cause of the kind of stable top rate may perhaps maybe perhaps be contributed to basically in all probability the greatest winning on-line droop agency (OTA) in India adopted by a extremely scalable asset-light digital industry mannequin, he acknowledged.

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Easy Outing Planners used to be basically in all probability the greatest winning on-line droop agency among the main on-line droop businesses in India in FY18, FY19 and FY20, by web income margin. Its market portion within the entire Indian on-line droop agency industry by scandalous booking revenues used to be approximately 4.6 p.c in FY20.

The firm has outperformed industry by recording a train of 37.31 p.c in scandalous booking income from airline tickets within the B2C channel in FY20.

Astha Jain, Senior Research Analyst at Hem Securities, expects Easy Outing to checklist at more than 50 p.c top rate to advise label, whereas Yash Gupta, Equity Research Affiliate at Angel Broking, expects a extraordinarily factual itemizing top rate of 60-70 p.c over advise label.

The general public advise used to be a entire offer for sale (OFS) by its promoters Nishant Pitti and Rikant Pitti, who supplied shares rate Rs 255 crore each and each by the offer.

Disclaimer: The views and investment guidelines expressed by investment expert on Moneycontrol.com are his own and now now not that of the web blueprint or its administration. Moneycontrol.com advises customers to check with with licensed consultants sooner than taking any investment decisions.

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