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Easy Trip Planners, which operates EaseMyTrip, announced on Monday that it will issue bonus shares to its shareholders in a 1:1 ratio. This means that for every share an investor currently holds, they will receive an additional share at no extra cost.
In a filing to the exchanges, the company stated, “The Board at its meeting held today, October 14, 2024, has approved the issue of 1 bonus equity share for every 1 fully paid-up equity share, pending shareholder approval.” However, the company has not yet disclosed the record date for this bonus issue.
This marks the third time Easy Trip Planners has issued bonus shares. The previous issues were in a 1:1 ratio in February 2022 and a 3:1 ratio in November 2022. Companies typically issue bonus shares to utilize their free reserves, increase earnings per share (EPS), and expand their paid-up capital, while also reducing reserves. These shares are often called free shares because they are given to shareholders without any cost.
Investors need to buy the stock before the ex-date to be eligible for the bonus shares, as those who purchase on or after this date will not qualify.
As of the end of June 2024, 64.3% of Easy Trip Planners’ equity is held by promoters and their group, with the rest owned by the public. On Monday, Easy Trip Planners’ shares were trading 1.5% lower at ₹33.70 on the BSE around 2:30 PM.
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