Easy Trip Planners has fixed Wednesday, March 02, 2022 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issue of bonus equity shares of the company, through the approval of shareholders which has been obtained through postal ballot on February 16, 2022.
Last month, the board had recommended issuing 1 bonus share for every 1 held i.e., in 1:1 ratio. The company said its bonus shares will be issued out of free reserves created out of profits of the company available as at March 31, 2021.
“we hereby inform the exchanges that board recommended the Bonus Issue of Equity Shares in the proportion of (One) Equity Share of ₹2/- each for every (One) Equity Share of ₹2/- each held by the shareholders of the Company as on the record date, subject to the approval of the shareholders through Postal Ballot i.e. in compliance with the applicable laws,” Easy Trip Planners informed in a BSE filing.
A company usually issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.
EaseMyTrip provides travel agents access to its website to book domestic travel airline tickets in order to cater to the offline travel market in India. Its businesses are organized primarily in following segments like airline tickets, hotels and holiday packages and other travel services like rail tickets, bus tickets, taxi rentals, travel insurance, visa processing.
EasyMyTrip shares have given multibagger return of more than 163% since its listing in March 2021, whereas, the stock is up about 2% in 2022 (year-to-date) so far. Easy Trip Planners IPO was open between March 8 and March 10 and the shares made stock market debut on March 19.
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