Easy Trip board approves issuance of 3 bonus equity shares, stock split | Details

EaseMyTrip Planners on Monday, October 10 announced issuance of three bonus equity shares for every one fully paid-up equity share. 

The board also cleared proposal to increase authorized share capital from 75 crore to 200 crore. It also cleared a proposal to split each existing equity share of face value of Rs. 2 into 2 equity shares of face value of Rs. 1 fully paid-up. 

EaseMyTrip is an Indian online travel company, founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti. It is headquartered in New Delhi. The company provides hotel bookings, air tickets, holiday packages, bus bookings, and white-label services.

The company has given rationale behind the split and issue of bonus shares. The Company and its subsidiaries have grown significantly, in terms of business and performance, over the years. EaseMyTrip Planners said, “This is reflected in the share price of the Company. As and when the stock price rises further, it will be increasingly difficult for small potential shareholders to partake in the company’s future.”

“Keeping with the spirit of inclusion and in order to reward the shareholders. the Board of Directors at its meeting held today, approved and recommended the said corporate actions,” it added further. 

At 12 p.m., the stock quoted a price of Rs 409 apiece on the NSE after gaining 1.64 per cent. The counter has delivered a whopping 52 per cent return. EaseMyTrip had made debut on the bourses on March 19, 2021, yielding a moderate listing gain.