Easy Trip Planners board approves bonus share issue

Travel tech platform Easy Trip Planners Ltd on Monday said its board has approved issuance of bonus shares.

The board of directors at its meeting held on Monday approved the issuance of bonus shares in the ratio of one bonus equity share for every one fully paid-up equity share, Easy Trip Planners, which operates under the brand EaseMyTrip, said in a regulatory filing.

The bonus shares will be issued from the company's available reserves as of March 31, 2024, it added.

"This move highlights EaseMyTrip's commitment to rewarding shareholders, following two successful bonus issuances in 2022," the company said.

EaseMyTrip CEO and Co-Founder Nishant Pitti 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 total number of shares to be issued are 177.2 crore at a face value of Rs 1 each. The issuance will be financed using Rs 177.2 crore from the company's available reserves of Rs 397.4 crore. After the bonus, the total share capital will stand at Rs 354.408 crore, the company said.