Online travel service provider EaseMyTrip is looking to expand its services by acquiring a 51% stake in three travel companies.
What Happened? The travel-booking platform will acquire Guideline Travels Holidays India Private Ltd, Dook Travels Private Ltd, and Tripshope Travel Technologies Private Ltd, according to a regulatory filing.
EaseMyTrip will facilitate the acquisition by issuing its equity shares on a preferential basis to the selling shareholders of the three companies, as mentioned in the regulatory disclosure. The move is expected to bolster EaseMyTrip’s position in the travel market and improve its product offerings.
Guideline Travels offers international group tours, bespoke FIT ventures, and cruises. TripShope Online provides a wide array of travel and leisure solutions, from flights to hotels. Dook Travels, an integrated travel management company, operates across CIS countries, Turkey, United Arab Emirates and India, having served over 1 lakh tourists in the past eight years.
Price Action: EaseMyTrip’s share price was up 1.11% to ₹41 in afternoon trade on Tuesday. Among new-age tech stocks that have had recent IPOs, EaseMyTrip has delivered the best percentage returns since its listing.
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