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Listed travel tech company EaseMyTrip plans to raise up to ₹500 Cr (about $52 Mn) via a rights issue.

In an exchange filing, the company said its board approved the proposal to raise the funds yesterday. However, it didn’t disclose the eligible shareholders or the purpose behind the fundraise.

This comes a few months after the company, in February, said its board gave in-principle approval to a proposal to raise ₹500 Cr to expand its presence across non-core segments, particularly in hotels and holidays.

EaseMyTrip also said it planned to use the funds to bolster its tech and platform while exploring strategic acquisition opportunities that align with its long-term business priorities.

This comes at a time when the company’s shares have been on a downward trajectory owing to its weak financial performance. In Q3 FY26, the company reported a 90% YoY decline in net profit to ₹3.4 Cr from ₹34 Cr in the year-ago period. Operating revenue for the quarter under review increased 0.7% YoY and 28% QoQ to ₹151.7 Cr.

The company has also seen stake sale by its promoters and change in top-level executive roles over the last couple of years. Its promoter and chairman Nishant Pitti has pledged 98.89% of his stake in the company.

Cofounder Nishant stepped down from the post of CEO in January 2025 and was succeeded by Rikant Pittie. Another cofounder Prashant Pitti quit the position of MD in August 2025 and has been working on building new businesses — MSME-focused NBFC Optimo Capital and plant-based protein atta brand MillD.

Rikant also launched an AI venture studio to co-create businesses with other entrepreneurs in 2025.

As a result of all these, institutional investors have been dumping the company’s shares. Domestic mutual funds cut their stake in the company to a mere 1,152 shares at the end of March 2026 quarter. In comparison, five mutual funds cumulatively held 64.63 Lakh shares (0.18% holding) in the company in the preceding December quarter, while nine funds held 84.61 Lakh shares (0.24% stake) in Q4 FY25.

Shares of EaseMyTrip were trading 4.18% higher at ₹8.23 on the BSE at 11:41 IST.

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