The board of Easy Trip Planners Ltd. is set to discuss and approve the issuance of bonus shares on October 14. The company has previously issued bonus shares twice: first in a 3:1 ratio, granting three additional shares for every one held, and second in a 1:1 ratio, as reported by the Bombay Stock Exchange.
In September, company promoter Nishant Pitti sold a 13.9% stake through an open market transaction, offloading 24.64 crore shares for Rs 920.06 crore. The transactions were executed in three bulk deals: the first involved 16.91 crore shares at Rs 37.22 each, representing 9.54% of the equity. The second transaction included 6.73 crore shares at Rs 37.42 each, or 3.8% equity, while the final deal involved 1 crore shares at Rs 38.28 each, accounting for 0.56% of the stake.
Additionally, Easy Trip Planners’ board has approved the establishment of a wholly owned subsidiary to enter the electric bus manufacturing sector. The new venture, Easy Green Mobility, will collaborate with another subsidiary, YoloBus, to produce electric vehicles.
The company plans to invest Rs 200 crore over the next two to three years, focusing on research and development, product innovation, and building manufacturing facilities for the electric buses.
As of the latest market close, Easy Trip Planners’ shares rose by 3.77% to Rs 34.09, while the benchmark NSE Nifty experienced a slight decline of 0.12%. Over the past year, the stock has seen a decrease of 16.24%, and it is down 15.51% year-to-date, with a relative strength index of 38.63.
