EaseMyTrip rewards shareholders with bonus shares

Travel technology company Easy Trip Planners Ltd, trading as EaseMyTrip, has revealed its decision to issue bonus shares, a move approved by its board of directors on Monday.

The bonus shares will be issued on a one-for-one basis, backed by the company’s reserves on March 31, 2024. This strategic decision marks the company’s third such issuance, following successful distributions in 2022.

CEO and co-founder Nishant Pitti emphasized that the issuance demonstrates EaseMyTrip’s gratitude towards shareholders and confidence in its financial stability. The issue will involve 177.2 million shares at Re 1 each, funded by the company’s reserves of Rs 397.4 million, bringing the total capital to Rs 354.408 million.

(With input from agencies.)