Easy Trip shares witnessed a sharp increase of 14% during morning trade on Friday, November 29, as the stock traded ex-bonus. The company's board of directors approved the issuance of 1:1 bonus shares, offering one bonus equity share for every fully paid-up equity share held by shareholders.
For those planning to invest in stocks, Easy Trip's bonus share issuance highlights the company's focus on rewarding its investors.
Key details of the 1:1 bonus issue
The company's board of directors approved the 1:1 bonus share issue during a meeting held on October 14, 2024. The total number of bonus shares to be issued is 1,77,20,40,618, with a face value of ₹1 each. The issuance will utilise ₹1,772.04 million from the company's reserves of ₹3,973.96 million.
Following the bonus issue, the company's total share capital will increase to ₹3,544.08 million. This marks the third time Easy Trip has issued bonus shares. Previously, it announced a 1:1 bonus share issue on February 28, 2022, and a 3:1 bonus issue on November 21, 2022.
Investors who regularly invest in stocks can track such announcements to benefit from potential growth opportunities.
Historical bonus share record
This marks the third bonus share issue by Easy Trip. Previously, the company issued bonus shares in a 1:1 ratio on February 28, 2022, and a 3:1 ratio on November 21, 2022. The consistent history of bonus share issuance highlights the company's emphasis on rewarding its investors.
Investors who frequently invest in stocks may find this history encouraging as they evaluate the company's shareholder strategies.
September quarter earnings highlight
Easy Trip reported steady growth in its Q2FY25 results:
Additionally, the company recorded a gross booking revenue (GBR) of ₹20,756 million for the quarter. GBR from hotel nights increased significantly to ₹2,414 million, marking a 178.4% year-on-year growth. Revenue from other bookings grew by 19.4% to ₹407 million.
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