Travel Company Board Approves Bonus and Stock Split: See Details Here

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The Board of Easy Trip Planners approved the free share issue as well as a stock split. Both corporate actions will take place no later than December 8, 2022.

Easy Trip Planners (Ease my trip) is a travel agency that only listed on the stock exchange in March 2021. It allows travel agents to access its website to book air tickets for trips domestic to cater to India’s offline travel market. Since its IPO, its stock price has increased by 274.56%, which has resulted in multibagger returns.

“We have experienced significant growth in terms of business and performance over the years. This is reflected in the company’s share price. In keeping with the spirit of inclusion and in order to reward shareholders, the board of directors, at its meeting held today, approved and recommended said corporate actions,” the company said, explaining the reason for be of the stock split and the issuance of bonuses.

He added that its share price has risen over the years, making it increasingly difficult for potential small shareholders to participate in the company’s future.

The company in a BSE filing said its board had reviewed and approved the split/split of each existing share with a par value of ₹2/- (Rupees Two only) into 2 shares with a par value of ₹2/- nominal of ₹1/- (Rupee One Only) fully paid.

In addition, it approved the issue of 3 (three) free capital shares for 1 (one) fully paid-up capital share. He added that the bonus will be issued from the free reserves created from the company’s profits available as of March 31, 2022.

In addition, the company will increase the authorized share capital from ₹75 crore to ₹200 crore and amend the capital clause of the memorandum of association.

Shares of the company were trading at ₹395.65 as of 12:10 p.m. Tuesday. The shares have an excellent return on equity of 53.16%. They trade at a price-to-equity ratio of 69.76, which is well above the industry PE of 58.79. This indicates that the stock may be overvalued.

Written by Simran Bafna

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The content of this news article is not investment advice. Investing in stocks presents a risk of financial loss. Investors should therefore exercise caution when investing or trading stocks. Dailyraven Technologies or the author are not responsible for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The Post Travel Company Board Approves Bonus and Stock Split: Check the details here which appeared first on Trade Brains.

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