Easy Trip Planners' board to meet on Jan 24 to consider acquisition proposals
Jan 19, 2023
New Delhi [India], January 19 (ANI/PNN): Easy Trip Planners' board of directors is scheduled to meet on Tuesday, 24th of January, 2023 to consider acquisition proposals. Easy Trip Planners operates the tours and travel service providing platform EaseMyTrip.
Easy Trip Planners, through an exchange filing, informed that its board meeting will meet on January 24, 2023 at 10.00 A.M. to consider the proposals for acquisition. The meeting will be conducted through video conferencing mode, said the regulatory filing.
However, the company has not disclosed about its acquisition plans in the filing but the online travel aggregator EaseMyTrip has been focusing on inorganic acquisitions. It recently acquired Spree Hospitality and YoloBus and will be looking to add two-three more names in the list in FY23.
Easy Trip Planners is looking to acquire companies that have an asset-light model and are debt free, along with a positive bottom-line. The company management had also clarified that it is aiming for names which are in the travel space but must be in the non-air segment.
Founded in 2008 by Nishant Pitti, Rikant Pittie, and Prashant Pitti, EaseMyTrip's online platform enables customers to book air, rail, and bus tickets, hotels, holiday packages, and more. Easy Trip Planners is a bootstrapped venture, which has turned profitable now.
Ease My Trip EPS has shown robust growth since the travel industry recovery post-pandemic. The company maintained stable EBIT margins over the last year and business performance has also improved, said Ravi Singhal, CEO, GCL Securities
"Ease My Trip is now also focusing on international networking which may further strengthen the business prospects. On technical setup, the stock is showing strength on momentum indicators on the daily chart," he said.
In November 2022, the company stock went through corporate action as the company issued bonus shares in 3:1 ratio after the sub-division of each equity share with face value of Rs 2 into two equity shares with a face value of Re 1 each.
Singh added that the oscillators are also suggesting an inherent strength in the counter. Investors may Buy Ease My Trip stock at current levels for the target of Rs 75 putting stop loss of Rs 48-levels.
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