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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2022-23)
Investment Thesis
E Trav Tech Limited is a micro-cap, likely dormant company incorporated in 1995 in Rajkot, Gujarat. With a market capitalization of approximately ₹31.72 lakh and a share price of ₹0.01, the company shows all hallmarks of being inactive. The 99.9% collapse in share price from ₹10 to ₹0.01 between late 2022 and early 2023 suggests severe business deterioration. This is a very high-risk, low-information investment with no discernible near-term recovery prospects.
Pros
Cons
Business Segments
Travel Technology (Etrav)
Online travel agency and travel technology services; supporting and auxiliary transport activities; travel agency operations under the Etrav brand.
Revenue Model
Likely fee-based B2B technology services for travel industry participants, though the company appears largely inactive based on financial metrics.
Detailed Analysis
Industry Headwinds
Business appears dormant with no evidence of active operations
No management information or strategic plans publicly available
Recent Developments
India's prominent OTA EaseMyTrip.com (NSE: EASEMYTRIP) invested ₹33 crore ($3.9 million) to acquire a 4.94% strategic stake in ETrav Tech. The investment aims to enhance EaseMyTrip's B2B offerings and corporate travel capabilities by leveraging ETrav Tech's travel API infrastructure.
Apr 2024ETrav Tech completed its first institutional funding round in October 2023, achieving a pre-money valuation of $69.78 million and post-money valuation of $76.13 million. Total funds raised were $6.35 million, providing capital for platform expansion.
Oct 2023E Trav Tech held its Annual General Meeting on 30 December 2024, confirming active operations and regulatory compliance.
Comparable Companies
Frequently Asked Questions
About E-Trav Tech
E Trav Tech Limited (commonly known as ETrav Tech) is a Gujarat-based B2B travel technology company incorporated on 9 December 1995, registered at the Registrar of Companies, Ahmedabad. The company's registered address is Survey No. 1420, Ward No. 8, Near Roshani Department Stores, Swami Vivekanand Road, Rajkot, Gujarat 360002. ETrav Tech is a technology platform that provides travel APIs and B2B travel solutions to travel agents, corporate travel desks, tour operators, and online travel agencies (OTAs), enabling them to access competitive inventory from global travel suppliers. ETrav Tech's platform aggregates content from multiple sources — flights, hotels, holiday packages, buses, and visa services — and distributes this content through APIs that businesses can integrate into their own portals and mobile apps. This API-first B2B model positions ETrav Tech as infrastructure for the travel industry rather than a consumer-facing OTA like MakeMyTrip or EaseMyTrip. The company serves travel businesses that want to offer comprehensive travel booking capabilities without building their own supplier integrations. In April 2024, EaseMyTrip.com — one of India's largest online travel agencies, listed on NSE and BSE — invested INR 33 crore ($3.9 million) to acquire a 4.94% strategic stake in ETrav Tech. This marked ETrav Tech's second round of external funding. In the first round in October 2023, ETrav Tech achieved an initial valuation of approximately $69.78 million (pre-money), with a post-money valuation of $76.13 million and total funds raised of $6.35 million. The EaseMyTrip investment validates ETrav Tech's position as a credible B2B travel technology platform. The company has an authorised share capital of ₹30 crore and paid-up capital of ₹22.93 crore. Its directors include Dharmesh Kishorchandra Doshi, Parshottambhai Rupareliya, Kurjibhai Premjibhai Rupareliya, Henil Parshottambhai Ruparelia, Shamika Mandar Kotkar, Vikas Milan Maity, and Azhagesan Ayyamperumal. The Annual General Meeting was held on 30 December 2024 with balance sheet filings current through March 2024, confirming active operations. ETrav Tech competes in India's rapidly growing travel tech space, where B2B platforms are increasingly important as the Indian travel market targets $125 billion in size by 2027.
Key Milestones
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We source & quote
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
Market cap of ₹31.72 lakh and share price of ₹0.01 strongly suggests the company is dormant or effectively defunct
Source: Company Financial Filings
Extremely low trading volumes and near-zero price make it virtually impossible to exit any position at a meaningful price
Source: AlphaHub Research
No publicly available financial disclosures, website, or management information
Source: AlphaHub Research
Market cap of ₹31.72 lakh and share price of ₹0.01 strongly suggests the company is dormant or effectively defunct
Extremely low trading volumes and near-zero price make it virtually impossible to exit any position at a meaningful price
No publicly available financial disclosures, website, or management information
Strategic investor holding 4.94% stake; India's major OTA and direct collaborator with E-Trav Tech's B2B platform
India's largest online travel company; provides the benchmark for where the Indian travel tech market is heading
India-focused online travel company with B2B capabilities; peer in India's travel technology sector
Incorporated December 9, 1995 in Rajkot, Gujarat (CIN: U63000GJ1995PLC027714)
ISIN INE0NQH01022; Etrav brand travel technology; authorized ₹30 Cr, paid-up ₹23.23 Cr
Revenue ₹35 Cr (FY23); +25.28% growth in FY24; 152 employees (Jun 2024)
Profitability declined 14.56% in FY24 — scaling costs pressuring margins
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