Post by: Raman Preet
When the Indian stock market opens on Monday, all eyes will be on EaseMyTrip shares following the company's strategic investment move. EaseMyTrip has injected a significant amount of capital, ₹33 crore ($3.9 million), into Mumbai-based B2B travel agent company, Etrav Tech Ltd. This infusion of funds is expected to bolster EaseMyTrip's position in the travel industry by leveraging Etrav Tech's extensive network across the nation.
Etrav Tech, headquartered in Mumbai, specializes in offering comprehensive travel services to B2B travel agents nationwide. Its services include air tickets, hotel bookings, holiday packages, visa services, travel insurance, car rentals, and bus tickets. With a strong client base comprising over 40,000 travel agents, 600 distributors, and 700 API/white label clients, Etrav Tech primarily generates revenue from air ticket sales.
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This strategic investment by EaseMyTrip marks a significant milestone for Etrav Tech, paving the way for exponential growth and innovation. The capital infusion will be instrumental in fueling Etrav Tech's ambitious expansion plans. The company intends to enhance its technological capabilities by investing in cutting-edge technology infrastructure to streamline processes and enhance user experience. Additionally, it aims to diversify its product portfolio to offer a broader range of travel solutions, catering to the evolving needs of its clientele.
Moreover, Etrav Tech plans to strengthen its global presence by expanding into key international markets, including Thailand, Bali, and Vietnam, following its recent acquisition of UAE's Eagle Crest DMC.
In terms of stock performance, EaseMyTrip share price closed at ₹43.90 apiece on Friday. This marks a notable increase from its 52-week low of ₹37 apiece, indicating a positive trend in the stock's performance. However, the share price remains approximately 19 percent below its 52-week high of ₹54 apiece. Thus, investors will be closely monitoring EaseMyTrip shares to gauge the impact of this investment on the company's growth trajectory and stock performance.
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