India, May 14 -- Listed travel tech company EaseMyTrip plans to raise up to Rs.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 Rs.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 th...