Shares of Easy Trip Planners, which operates EaseMyTrip.com, soared 20 per cent to Rs 57.15 on the BSE in Monday’s intra-day trade after they turned ex-date for 3:1 bonus issue, and 1:1 stock split. The stock of the tour and travel related services company was trading close to its 52-week high level of Rs 59.56 (adjusted to stock split and bonus), touched on May 25, 2022.
The company had fixed November 22, 2022 as the record date for the purpose of ascertaining the eligibility of shareholders entitled for the bonus shares, and stock split.
At 09:27 am, Easy Trip Planners was trading 16 per cent higher at Rs 55.25, as compared to 0.69 per cent decline in the S&P BSE Sensex. The counter saw huge trading volumes with a combined around 10 million equity shares having changed hands on the BSE and NSE at the time of writing of this report.
The board of Easy Trip Planners, on October 10, 2022, had approved sub-division/split of each existing equity share of face value of Rs 2 into 2 equity shares of face value of Rs 1. The board also approved issue of 3 bonus equity shares for every 1 share held in the company.
“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. Keeping with the spirit of inclusion and in order to reward the shareholders the board of directors, the company as approved and recommended the said corporate actions,” Easy Trip Planners said.
In the past one year, the stock price of Easy Trip Planners has zoomed 75 per cent, as compared to 2.7 per cent rise in the S&P BSE Sensex.
EaseMyTrip is one of India’s largest online travel platforms in terms of air ticket bookings. Furthermore, growing at a CAGR of 78 per cent during FY20-22 in profits, it is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers ‘End to End’ travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value- added services.