Easy Trip Planners gets board nod for raising funds up to Rs 1,000 crore

Online travel service provider Easy Trip Planners Ltd is planning to raise up to Rs 1,000 crore through a preferential issue.

The board of directors of the company, at its meeting held on Tuesday, has given in-principle approval for the fundraising proposal, Easy Trip Planners, which operates under the brand EaseMyTrip, the company said in a regulatory filing.

The company further said that the board's in-principle approval pertains to "identifying the optimum combination of equity shares and/or warrants convertible into equivalent number of equity shares of the company to be issued on preferential basis for raising funds up to Rs 1,000 crore."

The exercise will be on such terms and conditions as may be determined by the board in accordance with SEBI regulations and other applicable laws and to identify the list of proposed allottees for the aforesaid purpose, it added.