Indian online travel company EaseMyTrip plans to raise 234.03 crore rupees (around US$27.6 million) through a preferential issue of shares, as approved by its board.

The company will issue 12.84 crore (around US$1.5 million) equity shares at 18.22 rupees each (US$0.22), pending regulatory and stakeholder approval.

According to a filing, the shares will be allotted to three companies and four individual investors.

EaseMyTrip is expanding its operations through acquisitions, including a planned 49% stake in Planet Education Australia and 50% of Jeewani Hospitality.