EaseMyTrip board approves ₹500 crore fundraise through rights issue

Travel tech platform Easy Trip Planners Ltd on Wednesday said its board has approved raising ₹500 crore through a rights issue.

The board of directors has approved the issuance of equity shares on a rights basis for an amount not exceeding ₹500 crore, Easy Trip Planners, which operates under the brand EaseMyTrip, said in a regulatory filing.

Fully paid-up equity shares of face value of Re 1 each will be issued as security, but the number of securities proposed to be issued and the issue price will be determined after finalisation of the terms of the rights issue by the board, as recommended by the rights issue committee, it added.

 

The board has also approved the appointment of the necessary intermediaries in connection with the rights issue, the company said.