Easy Trip Planners gains after board approves bonus issue

Easy Trip Planners rose 2.05% to Rs 591 after the company said its board approved 1:1 bonus issue of equity shares.

The board of Easy Trip Planners at its meeting held today, 12 January 2022, approved issuing one bonus equity share for one equity share of Rs 2 each held. The proposal is subject to the approval of the shareholders through postal ballot.

A free reserve of Rs 21.72 crore is required for the proposed bonus issue. As on 31 March 2021, the balance of Rs 143.60 crore is available in the company's free reserves account.

On a consolidated basis, Easy Trip Planners' net profit surged to Rs 27.13 crore in Q2 FY22 from Rs 6.16 crore in Q2 FY21. Net sales during the quarter jumped to Rs 43.69 crore from Rs 9.95 crore reported in the same period last year.

Easy Trip Planners is an online travel platform, offering end to end travel solutions which include air tickets, hotels and holiday packages, rail tickets & bus tickets as well as ancillary value-added services.

Shares of Easy Trip Planners entered the bourses on 19 March 2021. The stock was listed at Rs 206, a premium of 10.06% to the initial public offer (IPO) price of Rs 187.

The IPO was subscribed 159.33 times. It was open between 8 March 2021, and 10 March 2021. The price band for the IPO was set at Rs 186-187 per share.

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