The Enforcement Directorate (ED) has reportedly expanded its probe into the matter, putting cofounder Nishant Pitti of the online travel aggregator EaseMyTrip under suspicion, a month after the company formally denied any affiliation with the Mahadev app or any other betting platform.
Pitti is suspected of working with a group of operators who reportedly utilised the money made from the illicit betting business to manipulate the stock prices of 25 listed companies in which the promoters of those companies were involved, according to a media report.
In addition, during its raids last month, the ED allegedly retrieved INR 7 lakh from Pitti’s home, which is regarded as possible proceeds of crime (PoC). It is noteworthy that as part of the money laundering probe into the INR 20,000 Cr Mahadev betting case, the ED conducted raids at other Pitti-related venues last month.
Despite acknowledging in public that ED searched more than 50 places, including the Easemytrip location, the travel tech platform claimed to have “no direct or indirect association with the Mahadev Betting App or any other betting platform.”
But according to a recent media source, the ED made four accusations against Pitti in its submission to the adjudicating authority (AA).
ED’s Allegations on Pitti
Pitti was allegedly aware of the activities of the betting website Sky Exchange, which was connected to the Mahadev app, according to the investigating agency. Additionally, it claimed that Pitti’s company paid two shell corporations associated with the software.
The recovery of INR 7 lakh from Pitti’s home and his alleged interaction with an operator who conspired with promoters of listed firms to manipulate stocks are the two additional accusations. With eight earning members at home and more than INR 1,000 Cr in IT returns, Pitti has reportedly refuted the accusations once more and told a media outlet that the company’s declared cash in hand is more than INR 70 Lakh.
“The INR 7 lakh that was recovered is a small portion of our declared cash and is tiny in comparison to our income,” Pitti stated. In the meantime, digital information found on Prashant Bagri’s laptop establishes Pitti as a Sky Exchange agent, per the ED’s application. Bagri works with one of the main defendants in the lawsuit.
According to reports, ED further points out that Nischay Trading Private Ltd. and Silvertoss Shoppers Pvt. Ltd., which have been identified as entry-providing organisations, received payments from Easy Trip Planners Ltd. in 2021. The ED claims that Easy Trip Planners Ltd. and Pitti handled the proceeds of crime connected to Sky Exchange based on this evidence.
What wasMahadev App Scam?
The lavish wedding of Sourabh Chandrakar, one of the marketers of the Mahadev Online Betting app, in Dubai, which cost more than INR 200 Cr, brought attention to the Mahadev betting app scam in 2023. With 10 million users at its height, the app, which was operated by Chandrakar and Ravi Uppal, let users place real-time bets on sports like tennis, cricket, and football.
Later, a number of celebrities were engaged in the case, including Hina Khan, Huma Qureshi, Shraddha Kapoor, and Ranbir Kapoor. The Mahadev app online betting fraud was exposed by the ED during a crackdown that began months later.
Following investigations, the ED discovered that INR 1,100 Cr of the estimated INR 20,000 Cr in total profits of the crime had been transferred into the stock market using fictitious bank firms and dummy accounts.
The ED had previously claimed that Bhupesh Baghel, the former chief minister of Chhattisgarh, had accepted kickbacks from the Mahadev app’s developers totalling more than INR 500 Cr.
Regarding the Enforcement Directorate’s raids on its property in relation to the Mahadev betting app case, online travel aggregator (OTA) Easemytrip has provided an explanation. EaseMyTrip denied any affiliation with the Mahadev app or any other betting site in a statement released today. According to information in the public domain, the Enforcement Directorate (ED) searched more than 50 places belonging to different individuals and corporations. The EaseMyTrip premises was one of them. According to a corporate spokeswoman, EaseMyTrip is entirely committed to working with the authorities during the inquiry, even though the company has no direct or indirect affiliation with the Mahadev Betting App or any other betting platform. The statement was made a day after it was reported that the central investigative agency, ED, had raided multiple locations nationwide connected to Nishant Pitti, the co-founder and Chairman of EaseMyTrip. The ED’s money laundering investigation into the Mahadev betting scam, which defrauded unsuspecting investors of an astounding INR 20,000 Cr, included the searches.
No Conducive Evidence Found
According to a fresh agency report, investigators investigating the case said that no serious proof has been discovered so far during the searches at locations connected to EaseMyTrip. As part of its ongoing money laundering probe into the INR 20,000 Cr Mahadev betting case, ED is reportedly conducting raids at multiple sites throughout the nation connected to Nishant Pitti, co-founder and Chairman of online travel aggregator EaseMyTrip. According to a media house, which cited sources, the raids are presently taking place in 15 different places in India, including Delhi NCR, Mumbai, Chandigarh, Ahmedabad, Indore, Jaipur, Chennai, and Sambalpur. The Mahadev app was operated by Saurabh Chandrakar and Ravi Uppal, according to the ED’s probe. It enabled users to place real-time wagers on sports including tennis, football, and cricket. At its height, the app had close to 10 million users. The ED previously claimed that Bhupesh Baghel, the former chief minister of Chhattisgarh, had collected kickbacks from the Mahadev app’s developers of more than 500 Cr. Baghel, however, denied these allegations, calling them attempts to damage his reputation.
What Exactly is Mahadev Betting Scam?
One of the largest illicit betting schemes in India was the Mahadev Online Book app, which cheated Indian investors out of over INR 20,000 Cr. The Mahadev app was blocked by the Ministry of Electronics and Information Technology (MeitY) in 2023 for breaking the nation’s money laundering regulations. Through questionable banking practices or “hawala” transactions, the app was being used to launder money between India and Dubai, according to the ED’s probe. An estimated INR 20,000 Cr was obtained from the crime in this instance; of that amount, INR 1,100 Cr was transferred into the stock market using fictitious bank firms and dummy accounts. After Chandrakar’s extravagant wedding ceremony in the United Arab Emirates garnered media attention in February 2023, the Mahadev betting app scam was exposed. At least six Indian superstars were paid to perform at the wedding, which cost about INR 200 Cr. Chandrakar’s relatives were transported from India by private aircraft. According to reports, the investigation team later arrested about a dozen people in connection with the money laundering case involving the Mahadev Book app and frozen funds totalling more than INR 1,700 Cr. According to sources, Chandrakar, the suspected mastermind of the Mahadev betting fraud, was taken into custody in the United Arab Emirates in October of last year.
A penalty notice of INR 17.35 lakh has been issued to travel tech giant Easemytrip for allegedly breaking GST regulations. In a filing, the company stated that it has been notified that it has received an order from the Sales Tax Officer Class II/AVATO Delhi, State/UT: Delhi, dated February 24, 2025. The listed firm has taken advantage of the ineligible input tax credit (ITC) for the fiscal year 2020–21, according to the authority. The Delhi Goods and Services Act of 2017, the Central Goods and Service Tax Act of 2017, and the Integrated Goods and Service Tax Act of 2017 all impose penalties on EMT. In addition, the business plans to challenge the order.
EaseMyTrip’s Order Book and Expansion Spree
The business won the first intercity electric bus tender from the Madhya Pradesh government through its subsidiaries, YoloBus and Easy Green Mobility. By 2026, the business hopes to have 1,000 buses in service, having deployed 500 in 2025. EaseMyTrip also established Easy Trip Planners Do Brasil Ltda, a wholly owned subsidiary, in Brazil earlier this month. Due to a decline in its top line, EaseMyTrip’s profit after tax (PAT) dropped by almost 26% to INR 34.02 Cr in the third quarter of FY25 from INR 45.68 Cr in the same quarter last year. Additionally, its operational revenue decreased from INR 160.78 Cr in the same quarter last year to INR 150.56 Cr in the December quarter, a 6% decrease.
On-going Developments in the Firm
Following the resignation of former CEO Nishant Pitti last month, the publicly traded travel technology company has experienced a significant reorganisation in its senior management. Pitti diluted his 1.41% ownership in the firm, or 5 Cr shares, before he resigned. This is not the first time Pitti has sold off company stock. Through several block agreements, he sold 24.65 Cr of the startup’s shares in September 2024 for INR 920 Cr. Additionally, the company recently received board clearance to raise INR 234.03 Cr from seven investors through a preferential equity share offering.
About EaseMyTrip
EaseMyTrip.com is one of the biggest online travel agencies in India, having been founded in 2008. The company was founded by brothers Nishant, Rikant, and Prashant with the goal of streamlining operations and using the least amount of cash. It was inspired by their previous business, Duke Travel. Starting out in a tiny room, the firm surmounted obstacles with perseverance and family support to become a strong organisation that guarantees financial stability. By implementing a “no convenience fee” policy and switching to a customer-facing approach in 2011, the brand was able to build a devoted clientele through open pricing and first-rate service.
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Traveling is one of the activities that has proven more than one benefit to our body and mind because it refreshes both.
Who doesn’t like to travel? Traveling, any day, helps us learn and experience more than we do when we are restricted to our homes or lead a sedentary lifestyle. However, most often it was seen that people went confused or couldn’t muster courage enough to go on vacation due to all the complexities involved in it, which are aggravated by the lack of knowledge about the destination chosen and the updates about the appropriate fare to be carried. Furthermore, most people had to carry a considerable amount of cash during the trip, which also included enormous risks. Now, all of these don’t matter much anymore with the birth of EaseMyTrip. EaseMyTrip is a one-stop website built for the end-users so that they can freely travel anywhere without worrying much about anything during their trips. From booking flights to seeing sights, booking cabs during the trip and throughout it, and planning a complete holiday without breaking the banks, Easemytrip helps travelers rest assured.
Launched by Nishant Pitti, Rikant Pitti, and Prashant Pitti, EaseMyTrip was founded in 2008 as a disruptive idea of establishing an Indian internet travel firm. The firm, which is based in New Delhi, offers hotel reservations, airline tickets, vacation packages, bus reservations, and other white-label services.
Read more about EaseMyTrip, its Startup Story, History, Mission and Vision, Business model, Logo, Partnerships, IPO, Shareholding, Revenue, Financials, Acquisitions, Growth, Competitors, the Travel Industry, and more.
Also known as Easy Trip Planners, EaseMyTrip is a company that sells tickets, transportation, tour packages, and lodging. Located in New Delhi’s Patparganj Industrial Area, EasyMyTrip is an Indian internet travel agency. This travel agency has offices all across India and the world. It runs a travel website that offers discounts on flights, hotels, bus tickets, and vacation packages.
The firm provides a wide range of transportation products and services to meet the demands of travelers traveling inside the country as well as to and from other countries. It offers consumers a wide range of resources and information to help them plan, research, book, and purchase travel services and goods both inside India and in other countries. Products and services are available online through its websites and mobile applications. The company uses data and analytics to tailor the customer experience on the websites and mobile applications based on prior searches and purchases, which they think enhances customer engagement and the chance of purchase.
As more sectors migrate to digital channels, India’s online travel business is maturing. Gross reservations for online travel will rise in double digits, outpacing the total travel industry. The online travel business in India is quickly evolving as a result of the introduction of the internet and the rise of artificial reality (AR), as a rising number of Indians have resorted to the convenience of the web for better travel rates and lodgings. The rising penetration of foreign airline and hotel reservations given by online portals such as Cleartrip, MakeMyTrip, Yatra, and others will account for the majority of the growth in the Indian online travel sector.
Holiday packages are increasingly being offered in conjunction with travel and transportation options. The government’s regional airport development initiative promotes connection to smaller cities and villages, and it is the largest continuing development in India in terms of air accessibility and affordability. The growing tourism sector in India, as well as the increasing prevalence of internet usage and smartphone users in various nations, are driving the online travel market in India.
As to the Statista research tailored for India, the Travel & Tourism industry is anticipated to witness substantial growth, with a projected value of US$25.01 billion in 2025. With a projected CAGR of 8.07% (2025-2029), the market is expected to reach US$34.11 billion by 2029. This data, which comes from Statista, highlights the travel and tourism industry’s bright future as well as its critical position in the country’s economy.
EaseMyTrip – Founders and Team
EaseMyTrip Founders – Rikant Pitti, Nishant Pitti, and Prashant Pitti (Left to Right)
Nishant Pitti, Rikant Pitti, and Prashant are the co-founders of EaseMyTrip.
Nishant Pitti
Mr. Nishant founded the business intending to become a leader in the travel and tourism sectors, and he also serves as the Chairman of the company. After earning his bachelor’s degree in commerce from Delhi University, he went on to become a successful entrepreneur in the travel sector as well. His persistent goal to provide perfect services to Indian and international travelers led to the establishment of India’s premier travel agency. From 2012 to 2014, he served as honorary secretary of the Travel Agents Federation of India (TAFI). Mr. Nishant has dabbled in filmmaking, co-producing the Bollywood blockbuster ‘Madaari’.
Rikant Pitti
Easy Trip Planners Pvt. Ltd. was co-founded by Mr. Rikant Pitti, one of India’s brightest young entrepreneurs. As a seasoned investor with approximately eight years of experience, he has established himself in the online travel sector by bringing fresh perspectives to the travel & tourism business. Having earned a Bachelor of Technology (BTech) from Kurukshetra University, Mr. Rikant has made a significant contribution to the company’s growth. His thorough understanding of every aspect of the travel business, as well as its connection with e-commerce, has made this organization a household name among India’s discerning travelers. Rikant was the owner and operator of Duke Travel Agency while still in college. He serves as the CEO of the company.
Prashant Pitti
Easy Trip Planners Pvt. Ltd.’s adviser is Mr. Prashant Pitti, an experienced industrialist with a diverse background. He is known for his excellent marketing abilities and innovative ideas, and he has a remarkable knack for many areas of business. Mr. Prashant holds a BTech from IIT Madras. He has around three years of experience in the United States, where he worked as an assistant vice president in HSBC’s Risk Department in Chicago. EasyMyTrip.com has carved out a place for itself under his watchful eye. Prashant is convinced that technology, competent people, and a sophisticated management team can propel any business to new heights of success.
EaseMyTrip is working with “a qualified team of 501–1,000 well-trained staff who are contributing to the company’s constant growth,” as per its LinkedIn profile.
Prashant Pitti talks about The success story of EaseMyTrip
EaseMyTrip – Startup Story
Nishant Pitti, Prashant Pitti, and Rikant Pitti came up with the concept for EaseMyTrip as they were ordering plane tickets for their father’s regular business travels and saving money in the process. Initially operating as a travel agency out of their garage, the couple lost all of their money in the first three months. Later, referrals from family and friends were helpful, and a big turnaround occurred when an airline spotted many bookings originating from a single email account and approached the Pitti brothers to become its travel partners.
“My youngest brother Rikant decided to start EaseMyTrip while he was studying in school – in the 12th grade. I was in the US, working for a bank. Rikant and Nishant started this company. Then I quit my job and started to work in the company,” Prashant Pitti, whole-time Director of EaseMyTrip, told.
EaseMyTrip – Mission and Vision
At EaseMyTrip, the commitment to innovation is embodied by the dedicated in-house technology team, diligently crafting secure, advanced, and scalable technology infrastructure and software. This robust, technology-enabled foundation empowers to not only operate but also maintain an efficient and lean organization, perfectly tailored to the scale of operations.
Company believes that cutting-edge technology is integral to realizing the mission and vision, ensuring a seamless and unparalleled travel experience for the customers while driving the continued success of EaseMyTrip in the dynamic landscape of the travel industry.
EaseMyTrip Philanthropy
550 oxygen concentrators were imported for contributions during the COVID-19 Oxygen Crisis in India, and the firm also announced a thorough return policy that offered full reimbursements, including flight charges subtracted. During the Kerala floods, the company’s employees also donated a day’s income.
EaseMyTrip – Name, Tagline and Logo
EaseMyTrip makes traveling easy and convenient for its clients, which explains the name.
Tagline: Take it Easy
EaseMyTrip Logo
EaseMyTrip – Business Model
To cater to the offline travel industry in India, EaseMyTrip began operations in 2008 by focusing on the B2B2C (business to business to consumer) distribution channel and allowing travel agents access to its website to purchase domestic trip plane tickets. Following that, in 2011, the company began operations in the B2C (business to customer) distribution channel by utilizing its B2B2C channel and concentrating on the rising Indian middle-class population’s travel needs.
They were able to start operations in the B2E (business to enterprise) distribution channel in 2013 to offer end-to-end travel solutions to corporates, thanks to their presence in the B2B2C and B2C channels. They have a diverse consumer base and a large distribution network, thanks to their participation in three different distribution channels.
EaseMyTrip – Challenges Faced
EaseMyTrip partnered with Air Deccan, which offered tickets ranging from Rs 500 to Rs 700. However, they quickly ceased offering such low pricing since their profits were fast dwindling. EaseMyTrip was forced to recruit new travel agents and cut its commission rates as a result of this unfortunate turn of events. It collaborated with many other offline travel agents who the company with a cash advance. It then used this money to buy tickets in bulk from the airlines, resulting in a significant discount. It provided the majority of the early financial flow, and the brothers were able to generate a respectable profit.
EaseMyTrip – Partnerships
In 2018, it teamed up with the Indian Railway Catering and Tourism Corporation (IRCTC) to sell train tickets. In September 2019, EaseMyTrip collaborated with FoodForTravel. As part of the agreement, consumers were given free, ready-to-eat meals.
It has also worked on many films together, including the big-budget epic Manikarnika. The company was able to enhance its relationships with a variety of partners, such as hotels, buses, and airlines, and take advantage of numerous discounts as a result. With over 20,000 airline tickets sold every day, EaseMyTrip has gradually grown to become the third-largest online travel agency in our country as per news report of 2021. Some of the prominent EaseMyTrip partners and partnerships include:
Toffee Insurance – EaseMyTrip partnered with Toffee Insurance, which is hailed as one of the fastest-growing Insurtech providers to offer insurance solutions to its customers.
Flybig – Flybig is a regional airline company to sell tickets exclusively on its platform.
JustDial – EaseMyTrip entered into a partnership with JustDial, according to which all the air travel bookings will be completed via EaseMyTrip.
SpiceJet – SpiceJet is a budget airline company, that has partnered with SpiceJet to offer its customers hassle-free holiday bookings.
EaseMyTrip – Funding and Investors
EaseMyTrip has raised Rs 16.5 crore till date in one funding round.
Date
Stage
Amount
Investors
Feb 28, 2022
Post-IPO Equity
Rs 16.5 crore
Nomura Holdings
EaseMyTrip – Shareholding
EaseMyTrip’s shareholding pattern as of March 2019, sourced from Tracxn:
EaseMyTrip Shareholders
Percentage
Nishant Pitti
49.8%
Rikant Pitti
49.7%
Prashant Pitti
0.5%
Total
100.0%
EaseMyTrip Shareholding
EaseMyTrip – Mergers and Acquisitions
EaseMyTrip has acquired five companies to date.
Below are the details:
Company Name
Date
Amount
CheQIn
Jan 24, 2023
Rs 3 crore
Nutana Aviation Capital
Dec 1, 2022
–
Yolobus
Dec 16, 2021
–
Spree Hospitality
Nov 18, 2021
Rs 18.25 crore
Traviate
Oct 28, 2021
–
EaseMyTrip – Growth
EaseMyTrip is a leading online travel agency in India, which boasts a network of more than 61K+ travel agents, 1 Million+ Hotel partner networks, 400+ International & Domestic Airlines, and 11+ Million customers network online. EaseMyTrip announced that users would be able to book flight tickets via Whatsapp in January 2020, where they would be able to activate an autonomous interactive program just by sending a Whatsapp message and the bot will guide them through the end-to-end process.
EaseMyTrip has already gone for an IPO that was valued at Rs 510 crore and got listed on the domestic stock exchanges in 2021. The company was announced as the fastest-growing online travel agency in May 2021. It collaborated with some other companies like Airbnb, Yatra, and Oyo Rooms to form the Confederation of Hospitality, Technology, and Tourism Industry (CHATT), which is deemed to be an industry body for the tourism sector in India.
The Nishant Pitti-led company is a unicorn travel company, which entered the coveted club of unicorn startups of India on September 17, 2021, when its share prices touched a 52-week high of Rs 717.65.
Here go some major growth highlights of the brand:
EaseMyTrip boasts of operating with a lean and cost-effective model of operation
EaseMytrip is powered by advanced technologies and analytics capabilities
EaseMyTrip boasts a track record of delivering excellent performance with the help of an experienced management team
Apart from operating in India from offices in Delhi, Noida, Bangalore, and Mumbai, EaseMyTrip also operates abroad and has offices in Singapore, Dubai, London, USA, Thailand, New Zealand, and the Philippines
It company claims to have 11 Million+ customers network online
EasyMyTrip – Financials
EaseMyTrip has demonstrated consistent growth over the past five financial years, with notable increases in revenue and profitability.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 5,906 crore
INR 4,488 crore
INR 2,354 crore
INR 1,385 crore
INR 1,414 crore
Expenses
INR 3,375 crore
INR 2,375 crore
INR 1,987 crore
INR 716 crore
INR 903 crore
Profit/Loss
INR 1,031 crore
INR 1,342 crore
INR 1,059 crore
INR 610 crore
INR 330 crore
EaseMyTrip Financials
In FY24, EaseMyTrip’s revenue increased by 31.6% to INR 5,906 crore from INR 4,488 crore in FY23, while profit decreased by 23.2% to INR 1,031 crore from INR 1,342 crore.
EaseMyTrip Revenue Breakdown
Revenue Source
FY24
FY23
Revenue from Operations
INR 5,906 crore
INR 4,488 crore
Other Income
INR 185.1 crore
INR 153.7 crore
Total Revenue
INR 6,091 crore
INR 4,642 crore
The company’s revenue from operations grew by 31.6% in FY24, reaching INR 5,906 crore, up from INR 4,488 crore in FY23.
EaseMyTrip Profit/Loss
Profit Metrics
FY24
FY23
Gross Profit
INR 4,444 crore
INR 3,755 crore
Operating Profit
INR 2,070 crore
INR 1,768 crore
Net Profit/Loss
INR 1,031 crore
INR 1,342 crore
Net profit decreased by 23.2% in FY24, amounting to INR 1,031 crore compared to INR 1,342 crore in FY23.
EaseMyTrip Expenses Breakdown
Expense Type
FY24
FY23
Employee Benefit Expense
INR 821.5 crore
INR 524.4 crore
Finance Costs
INR 59.7 crore
INR 34.1 crore
Amortization & Depreciation
INR 71.6 crore
INR 29.0 crore
Other Expenses
INR 2,422.2 crore
INR 1,788.5 crore
Total Expenses
INR 3,375 crore
INR 2,375 crore
Total expenses rose by 42.1% in FY24 to INR 3,375 crore from INR 2,375 crore in FY23, primarily due to increased employee benefit expenses and other operational costs.
Quick Summary
Revenue Growth: 31.6% increase from INR 4,488 crore in FY23 to INR 5,906 crore in FY24.
Profitability: Net profit decreased by 23.2%, from INR 1,342 crore to INR 1,031 crore.
Expenses: Total expenses increased by 42.1%, driven by higher employee benefits and operational costs.
Business Outlook: EaseMyTrip continues to exhibit robust growth, leveraging increased internet adoption among businesses to enhance its market position.
EaseMyTrip – IPO
Though Easy Trip Planners went ahead with an IPO even amidst visible volatility in market conditions, it noticed a 13.5% listing gain on March 8, 2021, when it opened its IPO. By the time it went public in March of 2021, EaseMyTrip had been subscribed to 159.33 times. According to Prashant, EaseMyTrip was one of the first travel firms to go public, and since then, a slew of online companies have filed for an IPO.
It was subscribed a whopping 159 times, which makes the listing gain substandard. The stocks of EaseMyTrip are listed at Rs 212.25 on NSE, a 13.5% premium to its issue price, which was Rs 187 per share. On the other hand, the scrip got listed on the BSE at Rs 206, which was a 10.16% premium to its issue price.
EaseMyTrip – Advertisements and Social Media Campaigns
EaseMyTrip Campaign
EaseMyTrip is intentionally targeting the online booking-savvy customer demographic with this campaign. The campaign’s reach and resonance are increased by the brand’s use of Bollywood actors Varun Sharma and Vijay Raaz’s widespread appeal, which forges a strong bond with both the younger and older audience.
EaseMyTrip – Awards and Achievements
EaseMyTrip some of the prominent Awards and Recognistions are:
World Business Leader – The Bizz Awards 2020
Best Travel Booking Site – SATTE (2020)
Best Dealer Meet – Business World 2020
Best Travel Booking App/Website – Times Travel Awards (2019)
EaseMyTrip – Competitors
The top competitors in EaseMyTrip’s competitive set are:
Anticipating increased demand in the evolving landscape of safe and tech-driven travel, the company at that time thought of expanding its global footprint, present in the UAE, Singapore, the UK, the Philippines, Thailand, and the USA. With a strategic eye on the substantial pent-up global demand for travel and tourism, EaseMyTrip aims for a healthy business volume growth. Known for its no-convenience-fee model, the company aims to expand internationally and diversify into corporate travel and luxury tourism.
FAQs
What does EaseMyTrip do?
EaseMyTrip is an Indian company that sells tickets, transportation, tour packages, and lodging.
Is EaseMyTrip an Indian company?
Yes, EaseMyTrip is an Indian company.
Who are EaseMyTrip founders?
Nishant Pitti, Rikant Pitti, and Prashant Pitti are the owners of EaseMyTrip, which was founded in 2008.
Which companies do EaseMyTrip compete with?
The top competitors in EaseMyTrip’s competitive set are MakeMyTrip, Goibibo, cleartrip and Ease My Visa.
What is EaseMyTrip Business Model?
EaseMyTrip operates on a commission-based online travel agency (OTA) model, earning revenue from flight, hotel, and holiday package bookings. It differentiates itself with a zero convenience fee option, making it a cost-effective choice for travelers.
Travel tech giant EaseMyTrip’s cofounder, former CEO, and promoter, Nishant Pitti, sold off 1.41% of the company, or 5 Cr shares, in a block deal on December 31. After the transaction, Pitti still owns 12.80% of the business. According to NSE statistics, Pitti sold 4,99,52,163 shares for INR 15.68 each, for a total transaction value of INR 78.3 Cr.
According to the data, Arunaben Sanjaykumar Bhatiya paid INR 15.86 per share for 2.4 Cr of the company’s shares. Amid rumours that Pitti was selling his entire ownership in the company, shares of Easemytrip fell as much as 10% during intraday trading earlier in the day. Pitti was scheduled to sell his remaining 14.21% interest in EaseMyTrip in a block deal valued at INR 780 Cr, according to a media report.
Second Time Pitti Offloading Shares of EaseMyTrip
The fact that this is Pitti’s second share sale of this kind in recent months. The cofounder sold 24.65 Cr of the company’s shares for INR 920 Cr in several block deals in September of 2024. The company’s third bonus issue was approved by the board earlier this year in a 1:1 ratio. The board also authorised a preferential offer of equity shares this month, raising INR 234.03 Cr from seven investors. Despite all of this, the business keeps adding new products to its lineup. Through an equity share swap valued at INR 39.20 Cr, the travel major acquired a 49% stake in Planet Education Australia, an Australian supplier of study abroad consultant services, in November.
Nishant Pitti Leaves his Position as CEO of EaseMyTrip
The parent firm of online travel aggregator EaseMyTrip, Easy Trip Planners Ltd., said that Nishant Pitti has resigned with effect from January 1 for personal reasons. According to an exchange filing, Rikant Pitti, the company’s CFO and Nishant’s brother, has been cleared by the board of directors to take over as CEO with immediate effect. Nishant Pitti, Rikant Pitti, and Prashant Pitti launched EaseMyTrip, which is run by Easy Trip Planners, in 2008. In recent months, the firm has taken a number of noteworthy actions.
Co-founder Rikant Pitti was instrumental in the development and prosperity of EaseMyTrip in 2008. Having worked in the travel and tourist sector for more than 16 years, Rikant has a thorough awareness of consumer demands and market trends, which puts him in a strong position to guide the business into its next stage.
Expansion Plans of EaseMyTrip
The company’s plan to enter the hospitality industry was supported by the acquisition of the Australian brand. The business said earlier this year that it had partnered with the Jeewani Group and had set aside up to INR 100 Cr to construct a five-star hotel in Ayodhya. As part of its drive into medical tourism, EaseMyTrip said in September that its board had approved plans to purchase a 49% investment in Pflege Home Healthcare Centre LLC for INR 30 Cr and a 30% stake in Rollins International for INR 60 Cr. In the meantime, the company’s consolidated profit after tax (PAT) for the second quarter of FY25 decreased 42.8% from INR 46.9 Cr to INR 26.8 Cr.
Easemytrip, an online travel aggregator, has launched a platform that gives companies a comprehensive way to handle their business travel requirements. EMT Desk seeks to simplify the experience for companies seeking to increase employee travel happiness and reduce travel expenses by combining strategic oversight, employee-friendly benefits, and real-time travel management, the company stated in a filing.
A dedicated travel manager for every corporate account, an admin panel for managing expenses, and a three-level approval matrix that is controlled via WhatsApp and email are just a few of the platform’s essential features.
EMT Desk Includes Advanced Tools For Hassle Free Booking Experience
Advanced features like chatbot support, CO2 emission reporting, and Power BI analytics are all included in EMT Desk. According to Rikant Pittie, creator of EaseMyTrip, the firm is bridging the gap between online convenience and strategic corporate travel demands with EMT Desk, giving businesses the tools they need to plan, manage, and enhance their travel experiences in a way that is intelligent, stable, and seamless. This development occurs at a time when EaseMyTrip has been expanding its business through acquisitions, partnerships, and the establishment of new subsidiaries.
For example, the startup and Hyperface collaborated to improve current card programmes and introduce new co-branded credit card programmes in November alone in an effort to increase consumer involvement. Additionally, through an equity share swap valued at INR 39.20 Cr, it obtained a 49% ownership in Planet Education Australia, a provider of study abroad consultancy services. In September, the company launched a marketplace called ScanMyTrip.com to provide travel services on the Open Network for Digital Commerce (ONDC) and established a wholly owned subsidiary named Easy Green Mobility to enter the electric bus manufacturing sector.
Financial Performance of EaseMyTrip
Two months ago, the board approved Easy Trip Planners, the parent company of EaseMyTrip, to purchase a 49% stake in Pflege Home Healthcare Centre LLC for INR 30 Cr ($3.5 Mn) and a 30% investment in Rollins International Private Limited for INR 60 Cr ($7.15 Mn). In the second quarter of the fiscal year 2024–25 (FY25), EaseMyTrip reported a 42.8% decrease in its consolidated profit after tax (PAT) from INR 46.9 Cr to INR 26.8 Cr. The company’s operating revenue, on the other hand, increased by a meagre 2.1% to INR 144.6 Cr in Q2 FY25 from INR 141.6 Cr the year before, but otherwise stayed essentially unchanged.
In 2023, EaseMyTrip made its debut in the business travel market with carefully chosen programmes that included volume savings, personalised pricing, and loyalty benefits. The segment helped organisations manage spending, guarantee compliance, and find savings by using powerful analytics and dedicated account managers through a global network of partners.
EaseMyTrip said in a press statement on 7 November 2024 that it has partnered strategically with Hyperface, Asia’s first Credit Cards as a Service (CCaaS) platform. The partnership intends to improve the card management features of the travel booking website and provide a more customised, digital-first experience for both new and returning consumers.
Hyperface will assist EaseMyTrip throughout the customer experience through this relationship, from launching hyper-individualised ads for current users to onboarding new ones. It is anticipated that the change will improve client interaction and offer a more fulfilling experience.
In an effort to provide its clients with the greatest financial products available, EaseMyTrip is thrilled to collaborate with Hyperface. According to Rikant Pittie, co-founder of EaseMyTrip, this partnership is a big step towards improving the company’s card programmes and guaranteeing that its clients have a smooth, value-added experience.
How Hyperface will Further Help EaseMyTrip?
Currently in conjunction with several banks, EaseMyTrip’s co-branded credit and debit card programmes will be streamlined with Hyperface’s assistance as part of this relationship. Customers of EaseMyTrip should find it simpler to manage their cards and take advantage of customised benefits and rewards as a result of the integration, which will increase convenience and value. EaseMyTrip and Hyperface are aggressively pursuing the development of new co-branded credit card programmes in addition to improving their current card programmes. These programmes are designed to give EaseMyTrip users specialised advantages and incentives.
Hyperface’s dedication to using creative card solutions to address real-world problems is demonstrated by its collaboration with EaseMyTrip. According to Ramanathan RV, co-founder and CEO of Hyperface, the company is excited to work with EaseMyTrip to provide their clients with the greatest card experiences possible and to help them expand internationally.
ScanMyTrip, a Unique Travel Platform on ONDC, Launched by EaseMyTrip
According to a press statement from the company, ScanMyTrip.com, the nation’s first travel marketplace of its sort, was launched in September 2024 by EasyMyTrip.com. Additionally, it is now the first online travel agency (OTA) to use the ONDC Network to both buy and sell travel services. In order to increase their visibility in the online market, OTAs, MSMEs, travel agencies, and homestays will be able to include services including flights, hotels, and lodging on ScanMyTrip.com.
Businesses in the travel and tourism industry can take advantage of the digital infrastructure offered by ONDC thanks to EaseMyTrip’s partnership with the ONDC Network. Through this collaboration, even small-scale service suppliers can reach a wider clientele. ScanMyTrip.com simplifies the onboarding procedure, which helps companies interact with passengers and prosper well in the cutthroat online market.
With the acquisition of a 49% equity stake in Pflege Home Healthcare for INR 30 crore and a 30% stake in Rollins International for INR 60 crore, the online travel platform EaseMyTrip announced on 17 September 2024 that it would be entering the rapidly expanding medical tourism market.
The board of directors of EaseMyTrip has given its approval to purchases totaling INR 90 crore to expand into the medical tourism industry, the firm stated in a filing with the exchange.
The Deal of EaseMyTrip and Pflege Home Healthcare Offerings
Through the acquisition of a 49% equity investment in Pflege Home Healthcare, which is located in Dubai, EaseMyTrip has made its debut in the healthcare service market. The transaction was completed at a cost of INR 30 crore. In addition to providing crucial medical equipment like ventilators and oxygen, Pflege is well-known for its comprehensive range of home-based medical care services, which include visits of the doctor, nursing care, physiotherapy, and the provision of additional medical equipment.
This patient-centered approach, which places an emphasis on providing compassionate care in the comfort of the patient’s own home, will now be incorporated into the services that EaseMyTrip provides to clients who are looking for medical treatments in other countries.
As a result of this agreement, EaseMyTrip intends to offer opportunities for individuals who are looking for healthcare solutions that are easily accessible, particularly in Dubai, which is a significant centre for medical tourists from all over the world.
The Chief Executive Officer and Co-Founder of EaseMyTrip, Nishant Pitti, stated that the addition of Rollins International and Pflege Home Healthcare has resulted in a considerable expansion of the company’s portfolio. “As a result of this change, we are able to reinvent medical tourism by making it more accessible and easy for our clients. For both domestic and foreign tourists, we are dedicated to providing care that is both seamless and of the highest possible quality, whether they are seeking medical treatment or wellness retreats,” Pitti added.
The Deal of EaseMyTrip and Rollins International and Offerings
Rollins International is a firm that specialises in gluten-free, lactose-free, and allergen-free food products, health supplements, and new-age wellness therapies. EaseMyTrip has also bought a 30% share in Rollins International, which was valued at INR 60 crore at the time of the acquisition.
The wellness centres that Rollins maintains may be found in various major cities in India, such as New Delhi, Mumbai, Bengaluru, and Hyderabad. It is anticipated that Rollins will continue to expand its operations. Through the acquisition of this company, EaseMyTrip will be able to serve a growing market of health-conscious travellers who place a high priority on their wellness and nutritional requirements while they are away.
Through the incorporation of Rollins’ expertise in wellness and allergen-free products, EaseMyTrip intends to develop travel experiences that cater to the specific health and lifestyle requirements of its consumers.
EaseMyTrip, an Indian travel technology company, has introduced ScanMyTrip.com, which is India’s first marketplace that is integrated into the network of the Indian Government Open Network for Digital Commerce (ONDC).
As a result of this introduction, EaseMyTrip has also established itself as the first online travel agency (OTA) to sell as well as buy travel services through the ONDC platform. In the travel and tourist industry, the integration is anticipated to bring about a revolutionary change in how businesses interact with their clients. The possibility of even smaller service providers’ access to a larger audience will now be available to them, enhancing their ability to compete in the digital market.
With the launch of this new endeavor, EaseMyTrip demonstrates its commitment to promoting broad development and encouraging digital innovation within the tourist industry. This will make it simpler for businesses of all sizes to thrive within the ecosystem of eCommerce.
Rikant Pittie, the co-founder of EaseMyTrip, expressed that the company is very pleased about the prospect of developing India’s first technology, which will bring the company one step closer to resolving basic difficulties faced by thousands of travel service providers.
Why Did It Opt for the ONDC Network?
According to EaseMyTrip, the integration with ONDC will make it possible for enterprises in the travel and tourist industry to take advantage of ONDC’s digital infrastructure. This will enable even the most modest service providers to access a large consumer base.
According to the official statement shared by the company, ScanMyTrip.com streamlines the onboarding process, which in turn makes it simpler for businesses to connect with travelers and compete in the online marketplace.
The Chief Executive Officer and Managing Director of ONDC, Thampy Koshy, brought attention to the significance of this cooperation by stating that the incorporation of EaseMyTrip into the ONDC network is a significant turning point in their efforts to establish a travel ecosystem that is more approachable and open to transparency. This integration will not only increase opportunities for micro, small, and medium-sized enterprises (MSMEs) and homestays, but it will also develop a marketplace that is both competitive and equitable. On the other hand, it is entirely in line with ONDC’s aim of making travel and online shopping accessible to everyone.
Letter of Intent With ONDC
EaseMyTrip made a public declaration of its intention to participate in the digital change that ONDC is pushing inside the ecommerce market by signing a Letter of Intent with ONDC at the “ONDC Startup Mahotsav” earlier this year. In the press release, it was stated that this collaboration exemplifies EaseMyTrip’s commitment to fostering inclusive growth and providing cutting-edge digital solutions to the travel and tourism industry.
IPO is a term that many of us are hearing nowadays. The ones who know about businesses and share markets are familiar with it. But few still don’t know what IPO is.
It is simply a process that makes a private company become public. Investing in IPOs can be a lucrative option to earn great financials in the future.
IPO investing does seem a good idea to almost everyone. However, it might not always be successful. It is important that you are a well-informed investor who knows about this world.
IPO has a way of working in India. The entire process gets monitored by SEBI (The Securities and Exchange Board of India).
IPO stands for Initial Public Offerings. As the name suggests it is a process that makes a company available to the public so that they can buy a share of it.
Any company with any type of business, size, or time of existence can get itself listed for being public. IPO simply helps a company to earn funding through public.
The company shares gets available to the public after initial public offerings. Investment banks help the company with the IPO process. The money raised through IPO enables a business to grow further. This in turn helps the shareholders to gain profits.
About IPO Process
How IPO works in India?
When a private company needs huge capital which is way beyond its reach to raise, it resorts to other measures. One of the best and lucrative options is to ask the public for investment through IPO.
A company can sell the shares itself, but this makes the process highly taxing. So, companies tend to hire investment banks to take care of the entire process.
The process of IPO in India involves the following steps:
Step 1
At first, the company creates an agreement with the investment bank. This includes the aimed amount to be raised, security issues, and other details about the process.
Step 2
Then they register a statement to the Securities and Exchange Board of India. The statement is then approved by SEBI after proper examination.
Step 3
After the approval, the company finalizes the shares to be sold to the public. It also finalizes the price for it.
IPOs are available in two issues. These are fixed price and book building. In the former, the company creates a fixed price for each share to be sold. In book building, the company provides a range of prices. The people then place their bids within the range to get a share.
Step 4
After the price fixations, the shares are available for the public. The interested people then submit their applications for the shares. Then after scrutinizing the applications, the company’s share allotment begins.
Step 5
The final step is the listing in the stock market. When the public investors receive their share, they are then listed in the secondary market.
How Does IPO Price is Decided in India?
In simple words, it is decided by dividing the entire value of the company by the number of shares in the listing.
The total number of orders received for shares and maximization of the trades to be executed at the time of stock exchange launch makes for the listing price.
Top IPO Listings and Funding India 2021
Zomato
The online food delivery company, Zomato gained huge popularity with its IPO listing. The date of listing was 23RD July 2021. The issue price was Rs.73. The current BSE and NSE prices are Rs.132.70 and Rs.133.70.
Public offerings helped Zomato raise Rs. 9,375 crores. Its debut in the share market turned various heads around.
Nykaa
Another popular IPO listing of the year 2021 is Nykaa. The beauty and wellness e-commerce company was listed on 10th November 2021. The issue price was Rs. 1,125. The current BSE and NSE prices are Rs. 2,063 and Rs. 2,018.
The company raised funding of Rs. 5,352 crores through the public offerings.
Paytm
The Indian digital payments and technology platform’s IPO listing date was 18th November 2021. The issue price was Rs. 2,150. The BSE and NSE prices are Rs. 1,955 and Rs. 1950.
Paytm raised Rs. 8,300 crores through initial public offerings.
MTAR Technologies Limited
MTAR Technologies, the engineering solutions company’s listing date was the 15th of March 2021. The issue price for the share was Rs.575. The current price at BSE (Bombay Stock Exchange) stands at Rs. 2236.95 and NSE (National Stock Exchange) current price is Rs. 2237.95.
After the sales of shares, the company gained Rs. 179 Crores through IPO.
Easy Trip Planners Limited
Easy Trip Planners or EasyMyTrip is the online Indian travel company found in the year 2008. EaseMyTrip got listed on 19th of March 2021. The issue price of the share was Rs.187. The current BSE price stands at Rs. 520.25 and NSE price is Rs. 593.85.
The company got the funding of Rs. 229 Crores after selling the shares to the public.
Paras Defence and Space Technologies Limited
Paras Defence and Space Technologies Limited deals in engineering products and solutions. The listing date for the company was 1st October 2021. The issue price was Rs. 175. The current BSE and NSE price stands at Rs. 732.4 and Rs. 732.9 respectively.
The company earned funding of Rs. 51 crores through IPO.
NURECA, the health and wellness products company’s listing date was 25TH February 2021. The issue price was Rs.400. The BSE and NSE current prices stand at Rs. 1390 and Rs. 1390.4.
The company received funding of Rs. 44.55 Crores through initial public offerings.
Clean Science and Technology Limited
The company uses the latest technologies to manufacture specific chemicals. The listing date for the company was 19th July 2021. The issue price was Rs. 900. The BSE current price is Rs. 2481.65 and NSE current price is Rs. 2476.15.
Through IPO the company collected a capital of Rs. 464 Crores.
Latent View Company helps with the processes related to digital consumers. It got listed on 23rd November 2021. The issue price was Rs. 197. The current BSE and NSE price of the company is Rs. 491.55 and Rs. 491.3.
The company received the funding of Rs. 267 Crores through IPO.
Laxmi Organic Industries Limited
Laxmi Organic Industries Ltd. is the chemical manufacturing company. The company was listed on 25th March 2021. The issue price was Rs. 130. The BSE current price is Rs. 396.45 and the current NSE price is Rs. 396.5.
IPO listing helped the company to raise funding of Rs.180 Crores.
Conclusion
The IPO market in the year 2021 has seen a great amount of growth. Many startups like Zomato, Nykaa, Paytm have entered the unicorn club through IPO this year.
IPO investing has two sides. It can be super flourishing but also a doorway to loss. So, it is necessary to do proper research about the company and the market before investing. IPO is a lucrative way that makes for company growth by making it available to the public.
FAQs
How many IPO are there in 2021 in India?
As per data by BSE, a total of 63 Indian companies went for IPO in 2021.
Which IPO is the biggest IPO in India?
The listing of LIC is considered to be India’s biggest ever IPO.
What are the top IPO funding in 2021?
Some of the top IPO Listings and Funding in India in 2021 are:
