EaseMyTrip Announces 1:1 Bonus Shares

Easy Trip Planners Limited (EaseMyTrip), announced on Monday that its Board of Directors has approved the issuance of 1 (one) bonus equity share for every 1 (one) fully paid-up equity share. The bonus shares will be issued from the company’s available reserves as of March 31, 2024, and this move highlights EaseMyTrip’s commitment to rewarding its shareholders.

This is not the first time EaseMyTrip has implemented a bonus issuance. The company successfully issued bonus shares twice in 2022, demonstrating a consistent focus on shareholder value. This latest issuance further strengthens its shareholder rewards strategy while reaffirming the company’s confidence in its financial health and future growth.

Commenting on this development, Nishant Pitti, CEO and Co-Founder of EaseMyTrip, said, “This bonus issuance reflects our gratitude to shareholders and underscores our confidence in the company’s strong financial health. As we expand, it’s important to continue sharing our success with those who have supported us throughout.”

The details of the bonus issuance include a 1:1 bonus ratio, meaning that one bonus share will be issued for every fully paid-up equity share held by shareholders. A total of 1,77,20,40,618 shares will be issued at a face value of ₹1 each. The total cost of this issuance will be ₹1,772.04 million, which will be financed using the company’s available reserves of ₹3,973.96 million. After the issuance, the total share capital of EaseMyTrip will rise to ₹3,544.08 million, further reflecting the company’s growth trajectory and its commitment to enhancing shareholder value.

About EaseMyTrip

EaseMyTrip is one of India’s largest online travel platforms, based on air ticket bookings, according to a CRISIL report. The company has been bootstrapped and profitable since its inception and offers end-to-end travel solutions, including air tickets, hotels, holiday packages, rail and bus tickets, and ancillary value-added services. As one of India’s fastest-growing online travel platforms, EaseMyTrip has consistently delivered strong financial performance, growing its profits before tax at a CAGR of 47% from FY20 to FY24.

On October 15, 2024, the share price of Easy Trip Planners Ltd opened at ₹33.50, touching the day’s high at ₹33.74, as of 9:32 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.