Initially, shares surged by 5 percent during early trading but later decreased by 2 percent. By 10:50 am, the company’s shares were trading at Rs 50.6, down 1 percent on the NSE compared to the previous session.
The board of EaseMyTrip has given in-principle approval for a joint venture. The company will invest Rs 100 crore as one of the joint venture partners in Jeewani Hospitality, the entity overseeing the project.
According to a filing with the exchanges, “This investment will represent 50 percent of the total paid-up share capital of the JV Company on a fully diluted basis through equity swap, once finalized.”
Nishant Pitti, CEO & Co-Founder of EaseMyTrip, stated, “With over 2.4 million visitors flocking to Ayodhya following the Pran Pratishtha of the Ram Temple, the city has emerged as a prime investment destination for businesses to offer hospitality options tailored to tourists and inviting guests to delve into a spiritually fulfilling journey while relishing in top-notch hospitality.
You might also be interested in – EPFO sets a three-year high interest rate of 8.25% on employees’ provident fund for 2023-24
