Easy Trip Planners rises after board OK's stock-split, bonus issue

Easy Trip Planners gained 2.93% to Rs 414 after its board approved 2-for-1 stock split and 3:1 issue of bonus shares.

Easy Trip Planners said that its board has approved sub-division of each existing equity share of face value of Rs 2 into 2 equity shares of face value of Rs 1 fully paid- up.

Consequent to the subdivision, the company's authorised share capital will be increased to Rs 200 crore from Rs 75 crore.

The company's board has also approved issuing of three bonus equity share for every one existing equity shares held as on a record date.

The firm said it would credit/dispatch bonus shares within two months from the board approval date, i.e. by 8 December 2022.

Explaining the rationale behind the split and issue of bonus shares, Easy Trip Planners said, The company and its subsidiaries have grown significantly, in terms of business and performance, over the years. This is reflected in the share price of the company. As and when the stock price rises further, it will be increasingly difficult for small potential shareholders to partake in the company's future.

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.

The company's consolidated net profit zoomed 114.7% to Rs 33.13 crore on 179.7% surge in net sales to Rs 87.58 crore in Q1 FY23 over Q1 FY22.

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