Easy Trip Planners has launched its IPO with an issue size of Rs 510 crore. Prashant Pitti, Whole-Time Director of Easy Trip Planners said that the main purpose of IPO is the tailwind from a public listing. He added that the company currently is cash rich and has enough funds.

“The main purpose of launch is to get the listing gains. We believe that since we are a consumer product, by being in the market, we will be able to get a lot of tailwinds,” he said in an interview with CNBC-TV18.

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He further stated that they will would like to sustain 47 percent growth on year-on-year (YoY) basis to catch up with the market leader.

“Our profitability has also been increasing at a pace of around 23-24 percent YoY and we would want to continue marching forward from here onwards,” he added.

Pitti also noted that the company will continue to grow its market share. He said that they have accumulated over Rs 220 crore from anchor investors.

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“For the last 9 months, our total air ticket segment was at 3.2 million while the top player commanded 8.5 million. So, yes we are behind, but we are not that behind. Our base is not that small as what people think. We are working our level best to continue growing our market share as we have been doing in the last 5 years. We have accumulated Rs 229 crore from anchor investors, he said.

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(Edited by : Pranati Deva)