Stock market next week: When the Indian stock market opens on Monday, EaseMyTrip shares will be in focus as the tour and travel company has infused capital in the Mumbai-based company Etrav Tech Ltd. In a press statement issued by Etrav Tech Ltd, it has been declared that the tour and travel company has infused $3.9 million capital or ₹33 crore in the Mumbai-based company. The capital infusion will enable EaseMyTrip to benefit from the B2B travel agent company’s network across the nation.
EaseMyTrip investment details
Informing about the capital infusion by EaseMyTrip, Etrav Tech said, “Etrav Tech Ltd., headquartered in Mumbai, has recently secured a significant investment of $3.9 Mn (INR 33 Cr) in its second round of funding, led by EaseMyTrip. This strategic infusion of capital, spearheaded by EaseMyTrip, marks a pivotal moment for Etrav Tech, setting the stage for exponential growth and innovation.”
Also Read: Varyaa Creations IPO opens next week. GMP, price, other details of upcoming IPO
Specializing in providing comprehensive travel services to B2B travel agents nationwide, Etrav Tech covers a wide array of offerings including air tickets, hotel bookings, holiday packages, visa services, travel insurance, car rentals, and bus tickets. With a robust clientele consisting of over 40,000 + travel agents, 600 + distributors, and 700 + API/white label clients, the company primarily generates revenue from air ticket sales.
“The strategic utilization of the $3.9 Mn investment will play a pivotal role in fueling Etrav Tech’s ambitious expansion plans. The company aims to enhance its technological capabilities by investing in cutting-edge technology infrastructure to streamline processes and enhance the user experience for its clients. Additionally, it plans to diversify its product portfolio to offer a broader range of travel solutions, catering to the evolving needs of its clientele. Moreover, Etrav Tech intends to solidify its global presence by strengthening its foothold in key international markets, including Thailand, Bali, and Vietnam, following the recent acquisition of UAE’s Eagle Crest DMC,” the B2B travel agent company said.
EaseMyTrip share news
EaseMyTrip share price ended on Friday at ₹43.90 apiece, around 19 percent above its 52-week low of ₹37 apiece and nearly 19 percent away from its 52-week high of ₹54 apiece. So, EaseMyTrip share price today is equidistant from its 52-week high and 52-week low.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
More
Less
Published: 20 Apr 2024, 02:41 PM IST