A 1:2 stock split and a 3:1 bonus share issuance were announced by EaseMyTrip.
As the company is currently trading ex-dividend and ex-bonus, attention is focused on EaseMyTrip or Easy Trip Planners shares. The company’s board of directors set November 22, 2022, as the record date for determining who is qualified to receive bonus shares and stock subdivision. The company’s board of directors had approved and declared bonus shares in a 3:1 ratio along with a 1:2 stock split.
Ahead of record date for stock split and bonus shares, EaseMyTrip share price shot up near 17 per cent in opening deals on Monday. EaseMyTrip share price today opened upside and went on to hit intraday high of ₹57.30 apiece levels, logging to the tune of 17 per cent upside within few minutes of stock market’s opening bell today.
In one of its latest stock market exchange communication, EaseMyTrip said, “This is to inform you that pursuant to Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, November 22, 2022 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for the following matters subject to the shareholders’ approval to be obtained through postal ballot on Thursday, November 10, 2022: 1. Sub division/Split of each existing equity share of face value of Rs. 2/- (Rupees Two only) into 2 equity shares of face value of Rs. 1/- (Rupee One Only) fully paid- up. 2. Issue of Bonus Equity Shares of the Company in the proportion of (Three) Equity Share of ₹1/- each for every (One) existing Equity Share of ₹1/- each.”
This is the second time in 2022 that shares of EaseMyTrip are trading ex-bonus. EaseMyTrip shares had traded ex-bonus for the issuing of 1:1 bonus shares in February 2022.
The EaseMyTrip IPO was introduced in March 2021 with an equity share price range of between 186 and 187. The stock listed at 206 per share on BSE and at 212.25 per share on NSE, delivering a double-digit listing gain to its allottees, making it the second-largest online travel agency in India at the time of its listing.
At 9:27 a.m., Easy Trip Planners was up 16% to Rs 55.25, as opposed to the S&P BSE Sensex’s 0.69 percentage point decrease. At the time this report was being written, around 10 million equity shares had been traded on the BSE and NSE in total for the counter. On October 10, 2022, the board of Easy Trip Planners approved dividing each existing equity share with a face value of Rs. 2 into two equity shares with a similar face value. In addition, the board authorised the issuance of 3 bonus equity shares for each share of the company that is held.
