Mumbai : EaseMyTrip, India’s second-largest online travel platform, on Wednesday approved and recommended the issuance of fully paid-up Bonus Shares in the ratio of 1:1 out of its free reserves created out of profit, subject to the shareholders’ approval through postal ballot.
The record date will be announced in due course, a company statement said here.
According to the Board of Directors meeting, the pre-bonus issue paid-up equity share capital as of date is Rs 217,290,000, divided into 108,645,000 Equity Shares of Rs two each.
The post-bonus paid-up share capital Rs 434,580,000, divided into 217,290,000 equity shares of Rs two each.
Commenting on the issuance of bonus shares, Nishant Pitti, CEO and Co-Founder, EaseMyTrip said, “Despite the challenges faced due to the pandemic, EaseMyTrip has consistently recorded profitable results due to a sustainable and resilient business model.
“Looking at the new avenues for growth from the non-air segment and our continued focus on financial and operational efficiency, we will continue to generate value for our stakeholders.
“Through the issuance of bonus shares, we want to reward our existing shareholders, allowing them to increase their equity in the group and gain greater exposure to our future growth,” he added.