Easy Trip Planners announces bonus issue in the ratio of 1:1

By Livemint
Easy Trip Planners shares surged over 2% (AFP)

Easy Trip Planners on Wednesday announced that its board at its meeting today recommended issuing 1 bonus share for every 1 held i.e., in 1:1 ratio, which is subject to shareholders approval. 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 today.

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.

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