Easy Trip Planners Ltd’s board approved a 1:1 bonus issue of shares on Monday, but the company’s shares fell despite the announcement. The board agreed to issue one bonus equity share for every fully paid-up share, pending shareholder approval, as per an exchange filing. However, the record date for determining eligible shareholders is yet to be announced.
Also Read: RIL Bonus Issue: Q2 Results and Record Date Announcement – Read More!
This marks the third bonus issue by Easy Trip Planners in recent years. The company had previously issued a 1:1 bonus in March 2022, followed by a 3:1 bonus in November 2022. The proposed 177.2 crore bonus shares, at a face value of Rs 1 each, will raise the company’s share capital to Rs 354.4 crore.
The company plans to credit the bonus shares to shareholders’ demat accounts by December 12, 2024, subject to the completion of formalities. Bonus issues help companies capitalise on free reserves while enhancing earnings per share and boosting paid-up capital.
Also Read Wipro Set to Discuss Bonus Shares on Oct 16-17 – Q2 Results Coming, Find Out More!
As of June 30, 2024, Easy Trip Planners public shareholding stood at 35.7%, with promoters holding 64.3%, according to BSE data. The company’s market capitalisation was Rs 6,007.2 crore.
Additionally, the board approved raising the authorised share capital to Rs 500 crore, divided into 500 equity shares of Rs 1 each.
Shares of Easy Trip Planners fell by 0.94% to Rs 33.87 on the NSE, while the Nifty 50 rose by 0.63%. The stock has dropped 16% this year and 20.7% over the last 12 months.
