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EaseMyTrip Acquires Majority Stake in Three Travel Companies

EaseMyTrip, the online travel aggregator (OTA) currently on an acquisition spree, announced on Monday (July 31) that its board has approved the acquisition of a 51% stake in three prominent Indian travel companies. The listed traveltech player will secure majority stakes in Guideline Travels Holidays, based in Mumbai, TripShope Travel Technologies located in Jammu & Kashmir, and Dook Travels headquartered in New Delhi.

EaseMyTrip revealed that the proposed acquisition consideration will be settled through the issuance of its equity shares to the selling shareholders of the target companies on a preferential basis, as stated in a company statement. However, the exact size of the deal was not disclosed.

The acquisitions are expected to bolster EaseMyTrip’s standing as a significant player in the travel and tourism sector.

Furthermore, the company’s board also approved a plan to raise up to INR 90 Crores through preferential allotment of shares or any other mode in one or more tranches.

With the latest acquisitions, EaseMyTrip is poised to accelerate its growth and extend its presence throughout the country. The strategic move will allow the company to harness the talent, resources, and expertise of the newly-acquired firms, reinforcing its position in the market and enhancing its offerings to customers.

According to EaseMyTrip, the three acquired companies will retain their distinctive identities and autonomy.

Nishant Pitti, EaseMyTrip co-founder, expressed, “These three companies boast a strong track record and extensive expertise in their respective domains. By joining forces with these exceptional travel companies, we are expanding our reach and embracing a diverse spectrum of services to cater to larger markets.”