EaseMyTrip ranked second among the Key Online Travel Agencies in India in terms of booking volume in the nine months ended December 31, 2020, and third among the Key Online Travel Agencies in India in terms of gross booking revenues in Fiscal 2020 (Source: CRISIL Report. Refer to “Industry Overview – Competitive Assessment of OTA in India).
EaseMyTrip has been consistently profitable since incorporation, and according to the CRISIL Report, It is the only profitable online travel agency among the Key Online Travel Agencies in India in Fiscals 2018, 2019 and 2020, in terms of net profit margin. EaseMyTrip had the highest CAGR from Fiscal 2018 to Fiscal 2020 in terms of gross booking revenue and operating revenues among the Key Online Travel Agencies in India
The company Gross Booking Revenues increased by 51.04% from ₹ 19,450.63 million in Fiscal 2018 to ₹ 29,377.75 million in Fiscal 2019, and by 43.13% from ₹ 29,377.75 million in Fiscal 2019 to ₹ 42,047.30 million in Fiscal 2020. The company Gross Booking Revenues amounted to ₹ 12,207.57 million in the nine months ended December 31, 2020. The company market share in the total Indian online travel agency industry in terms of gross booking revenues and gross booking revenues for the airline ticketing segment was approximately 4.6%, and 5.5% to 6.5%, respectively, in Fiscal 2020.
EaseMyTrip offers a comprehensive range of travel-related products and services for end-to-end travel solutions, including airline tickets, hotels and holiday packages, rail tickets, bus tickets and taxis as well as ancillary value-added services such as travel insurance, visa processing and tickets for activities and attractions. As of December 31, 2020, EaseMyTrip provided its customers with access to more than 400 international and domestic airlines, more than 1,096,400 hotels in India and international jurisdictions, almost all the railway stations in India as well as bus tickets and taxi rentals for major cities in India. In addition, as of March 31, 2020, it had 55,981 travel agents registered with us across almost all major cities in India and according to the CRISIL Report, The company had the largest network of travel agents among Key Online Travel Agencies as of such period
Further, the number of travel agents registered increased to 59,274, as of December 31, 2020.
EaseMyTrip commenced operations in 2008 by focusing on the B2B2C (business to business to customer) distribution channel and providing travel agents access to our website to book domestic travel airline tickets in order to cater to the offline travel market in India. Subsequently, by leveraging the B2B2C channel, the company commenced operations in the B2C (business to customer) distribution channel in 2011 by primarily focusing on the growing Indian middle-class population’s travel requirements. Consequently, due to its presence in the B2B2C and B2C channels, EaseMyTrip was able to commence operations in the B2E (business to enterprise) distribution channel in 2013 with the aim of providing end-to-end travel solutions corporates. The company presence in three distinct distribution channels provide it with a diversified customer base and wide distribution network.
EaseMyTrip has been providing customers with the option of a no-convenience fee, such that customers are not required to pay any service fee in instances where there are no alternate discount or promotion coupon being availed. In the pricing model, EaseMyTrip has endeavoured to avoid hidden costs, which result in increasing the final price payable by the customer. Between April 1, 2017, and December 31, 2020, it had a repeat transaction rate (calculated as a percentage of transactions by repeat customers, identified by their unique email address) of 85.95% in the B2C channel.Its Registered Customers in the B2C channel increased at a CAGR of 28.24% from 5.87 million customers as of March 31, 2018, to 9.66 million customers as of March 31, 2020, and further increased to 10.32 million customers as of December 31, 2020. Further, the Gross Booking Volumes increased by 54.43% from 2.37 million in Fiscal 2018 to 3.66 million in Fiscal 2019 and by 48.36% from 3.66 million in Fiscal 2019 to 5.43 million in Fiscal 2020. The Gross Booking Volumes were 1.77 million in the nine months ended December 31, 2020.
The Company believe that the strength of the brand, the quality of our services, our user-friendly websites (www.easemytrip.com and www.easemytrip.in), android and iOS based mobile applications (EaseMyTrip), customer-centric approach, as well as efficient marketing programs have enabled it to develop significant market share in the domestic airline ticket business in India. In Fiscal 2019, GoAir, and SpiceJet, recognized EaseMyTrip as amongst the top travel partners in terms of revenue and passenger count. The strength of the brand has increased significantly over the years. Visits to the websites (www.easemytrip.com and www.easemytrip.in) have increased at a CAGR of 51.17% from 22.58 million visits in Fiscal 2018 to 51.59 million visits in Fiscal 2020, and EaseMyTrip recorded 28.16 million visits in the nine months ended December 31, 2020. Downloads of android and iOS based mobile applications increased at a CAGR of 64.13% from 1.57 million downloads as of March 31, 2018 to 4.24 million downloads as of March 31, 2020, and further increased to 5.47 million downloads as of December 31, 2020.
EaseMyTrip has a dedicated in-house technology team focused on developing secure, advanced and scalable technology infrastructure and software. In Fiscal 2019, The company recorded the ‘Look-to-Book’ ratio of 5.08% on websites and mobile applications in the B2C channel while in Fiscal 2020, it increased to 5.32%. In the nine months ended December 31, 2020, the ‘Look-to-Book’ ratio was 3.43%.EaseMyTrip recorded a Booking Success Rate of 98.37% and 98.01% on websites and mobile applications in the B2C channel for domestic transactions in Fiscal 2020 and the nine months ended December 31, 2020, respectively.
EaseMyTrips technology-enabled infrastructure and systems have enabled it to operate and maintain an efficient and lean organization relative to the size of operations.
As of March 31, 2020, the company had 480 full-time employees and according to the CRISIL Report, it had the lowest number of employees among the Key Online Travel Agencies in India as of such period. As of December 31, 2020, It had 349 full-time employees. In addition, in Fiscal 2020, the company incurred the lowest per employee cost and lowest employee expense as a percentage of gross booking revenues among the Key Online Travel Agencies in India, according to the CRISIL Report. Further, according to the CRISIL Report, in Fiscal 2020, EaseMyTrip had the lowest marketing and sales promotion expense as a percentage of gross booking revenues and lowest other operating expense as a percentage of gross booking revenues among the Key Online Travel Agencies in India EaseMyTrip ranked second in terms of lowest customer promotion expense as a percentage of gross booking revenues in Fiscal 2020 among the Key Online Travel Agencies in India
MR. NISHANT PITTI
MR. RIKANT PITTIE
MR. PRASHANT PITTI
For the year/period ended (Rs in million)
Profit After Tax
One of the leading online travel agencies in India.Strong brand name and distribution network.In-house advanced technology infrastructure.Consistent financial track record and operational performance.
IPO Opening Date
8th March 2021
IPO Closing Date
10 March 2021
Book Built Issue
₹2 per equity share
₹186 to ₹187
Min Order Quantity
IPO Open Date
8th March 2021
IPO Close Date
10th March 2021
Basis of Allotment Date
16th march 2021
Initiation of Refunds
17th March 2021
Credit of Shares to Demat Account
18th March 2021
IPO Listing Date
19th March 2021
Book Running Lead managers
Axis Capital Limited Axis House, Level 1 C-2, Wadia International Centre Pandurang Budhkar Marg, Worli Mumbai – 400 025 Maharashtra, India Telephone: +91 22 4325 2183 E-mail: [email protected] Website: www.axiscapital.co.in Investor Grievance E-mail: [email protected] Contact Person: Mr. Pratik Pednekar SEBI Registration Number: INM000012029