Easy Trip Planners, the proprietor and operator of the online travel platform EaseMyTrip, declared yesterday that the company’s board has approved a plan to raise up to Rs 1,000 crore through a combination of preferential equity share issuance and warrants.
The travel-tech company, in a stock exchange filing, announced that, at its board meeting on 2nd January, 2024, the board of directors approved raising up to Rs 1,000 crore in capital by determining the best mix of equity shares and warrants that could be converted into the same number of company shares.
The company notified the bourses that these convertible warrants will be offered on a preferential basis in order to raise the specified cash, in compliance with the norms of SEBI (ICDR) and other relevant legislation.