Easy Trip Planners Limited (NSE: EASEMYTRIP), a leading online travel company, announced that its Board of Directors has approved the issuance of bonus shares in the ratio of 1:1, where shareholders will receive one bonus equity share for every fully paid-up equity share held. The bonus issue will be subject to shareholder approval.
As per the company’s regulatory filing, the bonus shares will be issued out of the securities premium account, general reserve, or retained earnings as available on March 31, 2024. The total number of bonus shares proposed to be issued is 1,77,20,40,618, bringing the post-bonus issued share capital to Rs 354.4 crore, doubling from the pre-bonus capital of Rs 177.2 crore.
Additionally, the Board has approved an increase in the company’s authorized share capital to Rs 500 crore, which will be divided into 500 crore equity shares of Rs 1 each. This increase, along with a consequent amendment in the company’s Memorandum of Association, will also be subject to shareholder approval.
The company anticipates that the bonus shares will be credited to shareholders’ demat accounts on or before December 12, 2024, upon completion of all required formalities.
The announcement is expected to provide enhanced liquidity and further strengthen shareholder confidence in the company’s future growth trajectory.