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EaseMyTrip Rides The Medical Tourism Wave With Two Bets Worth INR 90 Cr
Inc42
·
10m ago
Medial
EaseMyTrip, an Indian online travel company, has approved the acquisition of a 30% stake in Rollins International for INR 60 Cr and a 49% stake in Pflege Home Healthcare for INR 30 Cr. The investments will be made through equity share swaps and signify EaseMyTrip's foray into the medical tourism sector. This move is part of the company's strategy to diversify its offerings and tap into India's growing medical tourism market, which is expected to reach $50.67 billion by 2034.
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EaseMyTrip invests Rs 90 Cr in two overseas firms; enters medical tourism space
Entrackr
·
10m ago
Medial
Online travel aggregator (OTA) platform EaseMyTrip has acquired a 30% stake in Rollins International and a 49% stake in Pflege Home Healthcare to enter the medical tourism market. The board of directors at EaseMyTrip has approved the acquisition of Rollins International (30%) and Pflege Home Healthcare (49%) at a consideration of Rs 60 crore and Rs 30 crore, respectively, the company’s disclosure accessed from the National Stock Exchange shows. According to the filings, the consideration of Rs 90 crore will be paid to Rollins and Pflege in the form of an equity swap i.e. issuance of EaseMyTrip’s shares. “The acquisition is a strategic expansion into the rapidly growing medical tourism sector and align with EaseMyTrip’s mission to offer holistic travel solutions by integrating wellness and healthcare services into its service portfolio as medical tourism.” the company added in the disclosure. Pflege Healthcare is a UAE-based medical tourism provider which offers international patients access to treatments worldwide with partnerships across top-tier medical institutions and leading hotel chains. Rollins International is a subsidiary of Singapore-based RHA Holding which focuses on wellness, healthcare, and consumer products such as gluten and lactose-free food products, allergen-free health supplements, wellness therapies and treatments. Earlier this month, EaseMyTrip’s board also approved the proposal for the manufacturing of electric buses. Over the years, the company expanded its portfolio through the acquisition of several firms in the travel and hospitality sectors, including Guideline Travels Holidays, TripShope Travel Technologies, and Dook Travels last year. The Nishant Pitti-led firm recorded a 6.8% quarter-on-quarter decrease in its revenue to Rs 152.6 crore in the first quarter of the ongoing fiscal year as compared to Rs 164 crore in Q4 FY24. A slight decline in scale led EasyMyTrips’s profits to down by 13% to Rs 33.92 crore in the same period.
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EaseMyTrip's Nishant Pitti Pledges Shares Worth INR 95 Cr For ‘Personal Use’
Inc42
·
1m ago
Medial
Nishant Pitti, chairman of EaseMyTrip, has pledged shares worth INR 94.5 crore, equating to a 2.54% stake, to Motilal Oswal Financial Services for personal use. This move comes six months after he reduced his shareholding. The pledge was created on June 20 and represents about 13% of his total 45.4 crore shares in the company. Over the past year, Pitti's holding in EaseMyTrip has decreased from 28% to 13%.
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EaseMyTrip, Yatra’s Shares Jump After Budget's Focus On Tourism
Inc42
·
1y ago
Medial
EaseMyTrip experienced an 8.86% increase in its shares, reaching an intraday high of INR 43.6 on BSE. Yatra also saw a 4.9% surge in its shares, trading as high as INR 127.35. The Indian government has allocated INR 2,479.62 Cr for the tourism sector in the fiscal year 2025, a 46% increase from the previous year's revised allocation of INR 1,692.10.
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Why EaseMyTrip is betting on home healthcare, health food ventures
VCCircle
·
10m ago
Medial
EaseMyTrip, an online travel services provider, is expanding its operations into the medical tourism market by acquiring stakes in Rollins International, a healthcare consumer product maker, and home healthcare provider Pflege Home Healthcare. With these acquisitions, EaseMyTrip aims to offer holistic travel solutions by integrating wellness and healthcare services into its portfolio. The company has been diversifying its income streams since going public and has recently ventured into the hospitality business and electric bus manufacturing. These expansions require more resources and time for the company to be successful.
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New-Age Tech Stocks Rally In Budget Week, Paytm Emerges Biggest Gainer
Inc42
·
1y ago
Medial
Paytm's stock made a significant surge this week, crossing the INR 500 mark and emerging as the top gainer with a 10.93% increase. Traveltech startups like EaseMyTrip, Yatra, and ixigo also experienced gains after the announcement of initiatives to boost tourism in the budget speech. Additionally, Menhood, a men's grooming brand based in Jaipur, made its debut on the NSE Emerge market.
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ED Cracks Down: INR 90 Cr Seized from Crypto Giants
Inc42
·
1y ago
Medial
The Enforcement Directorate has seized frozen crypto assets worth INR 90 Cr, kept in wallets of Binance, ZebPay and WazirX, in connection with a money laundering case involving online gaming app E-Nugget. The ED alleged that E-Nugget disguised itself as a gaming platform and lured users with promises of lucrative profits.
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EaseMyTrip shares rally 19% intraday after launch of insurance broking subsidiary
Inc42
·
1y ago
Medial
Traveltech major EaseMyTrip saw a 19% surge in its shares after announcing the launch of its subsidiary EaseMyTrip Insurance Broker Private Limited. The new venture aims to solidify its position in the industry and tap into a potential market worth INR 7.9 Lakh Cr, with a user base of 2 Cr. EaseMyTrip had received approval last year to enter the general insurance space. The company aims to provide a comprehensive travel ecosystem to its existing and new customers.
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Tata Capital Healthcare Fund bets on medical devices maker Harsoria
VCCircle
·
7m ago
Medial
Tata Capital Healthcare Fund has invested $20 million in Harsoria Healthcare, a medical devices manufacturer, to expand its manufacturing and R&D efforts. Established in 2002, Harsoria specializes in CE-marked disposable medical products and exports to over 60 countries. With nearly 2,000 employees, it produces about 1 million devices daily and generates 90% of its revenue from exports. Tata Capital Healthcare Fund focuses on healthcare investments and has invested in 19 companies to date.
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FlexiLoans crosses Rs 100 Cr revenue in FY23, turns profitable
Entrackr
·
1y ago
Medial
MSME-focused fintech lending platform, FlexiLoans, has raised $90 million in its Series B round through a mix of equity and debt. The company achieved a two-fold scale in FY23, with operating revenue growing 2.1X to INR 108.5 crore. FlexiLoans offers collateral-free funds to MSMEs through its digital lending platform, using proprietary technology and risk models for quick loan approvals within 48 hours. The company reported profits of INR 6.67 crore in FY23, a significant improvement from the INR 10.77 crore loss in FY22.
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EaseMyTrip resumes bookings to Maldives
Economic Times
·
10m ago
Medial
- EaseMyTrip has resumed flight bookings to Maldives after improved bilateral ties between India and Maldives. - The company had suspended bookings to Maldives earlier due to a diplomatic row and derogatory comments made about Prime Minister Modi. - Some bookings reportedly occurred between May 16-26, but they were promptly removed by EaseMyTrip. - The decision to resume bookings comes after constructive dialogue with the Ministry of Tourism of Maldives delegation during their recent visit to India. - EaseMyTrip CEO Nishant Pitti stated that the decision aligns with the company's support for the Indian government and their vision.
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