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Business News/ Markets / Stock Markets/  Easy Trip to consider bonus shares issue, stock split on October 10

Easy Trip Planners Ltd on Tuesday informed that its board will meet next week on Monday, October 10, 2022 to consider the proposal for the issue of bonus equity shares of the company and/or sub division or stock split of share along with an increase in authorised share capital.

“Please be informed that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, October 10, 2022, at 10:00 A.M through video conferencing for considering the proposal for increase in Authorised Share Capital, issue of bonus shares and/or Sub-division/Split of Share," Easy Trip announced in an exchange filing today.

A stock split increases the number of shares that are outstanding by issuing more shares to the current shareholders. Stock split decreases the market price of the individual shares, however, does not result in changing the market capitalization of the company. A company engages in stock split decision to make its stock more affordable if its price levels are very high, which in thus would lead to increase in liquidity in the stock. 

Meanwhile, 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.

Shares of Easy Trip Planners were trading more than 8% higher at 413 apiece on the BSE. The stock is up nearly 54% in 2022 (year-to-date or YTD) so far. EasyMyTrip shares have given multibagger return of more than 294% since its listing in March 2021. Easy Trip Planners IPO was open between March 8 and March 10 and the shares made stock market debut on March 19.

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Updated: 04 Oct 2022, 10:38 AM IST
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