Business

Cleartrip to float IPO in 2-3 years, says report

Updated : March 08, 2019 09:34 AM IST

As per the report, the Mumbai-based firm is looking to become EBITDA positive in the immediate future prior to going public.

The report added that the company is taking steps to both expand and develop new strategies to improve their profits.

Online travel and hospitality company Cleartrip is planning an IPO in the next two-three years, reported Business Line.

As per the report, the Mumbai-based firm is looking to become EBITDA (earnings before interest, tax, depreciation and amortisation) positive in the immediate future prior to going public.

“The IPO plan is not definite. There are a few business objectives that have to be achieved first. But it (the IPO) may happen in the next two-three years,” Aditya Agarwal, head of the corporate strategy and M&A was quoted as saying in the report.

Agarwal told the Business Line that some verticals of the firm such as flight booking segment are already profitable and the firm is taking resources from these profitable segments to other verticals such as hotel bookings.

The report added that the company is taking steps to both expand and develop new strategies to improve their profits.

Cleartrip to float IPO in 2-3 years, says report

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