Easy Trip Planners, which operates under the brand EaseMyTrip, has approved plans to raise up to ₹500 crore through a rights issue.
In a regulatory filing on Wednesday, the company said its board of directors approved the issuance of equity shares on a rights basis for an amount not exceeding ₹500 crore.
The company stated that fully paid-up equity shares with a face value of Re 1 each will be issued as part of the fundraising exercise.
However, the final number of shares to be issued and the issue price will be determined later after the board finalises the terms of the rights issue based on recommendations from the rights issue committee.
The board has also approved the appointment of required intermediaries and advisors for executing the issue.
A rights issue allows existing shareholders to purchase additional shares in proportion to their current holdings, usually at a discounted price, enabling companies to raise capital while giving preference to existing investors.
The fundraising comes at a time when travel and tourism companies are increasingly focusing on expansion, technology upgrades, marketing, and new business initiatives amid sustained recovery in the travel sector.
Founded by Nishant Pitti, EaseMyTrip operates across flight bookings, hotels, holiday packages, bus ticketing, and other travel services.
Over the past few years, the company has expanded into adjacent segments including charter aviation, electric buses, and international travel partnerships.
The company is also among the few profitable listed online travel platforms in India and competes with players such as MakeMyTrip, Yatra, and Ixigo.
The rights issue is expected to strengthen EaseMyTrip’s balance sheet and provide additional capital for future growth initiatives.