Easy Trip Planners Approves Stock Split, Bonus Share Issue

Easy Trip Planners Ltd., which operates online travel agency EaseMyTrip, has approved a stock split and a bonus share issue to "reward shareholders".

The board of the Pitti brothers-led company has approved a split of each existing share into two and the issue of three bonus equity shares for every one share held, according to an exchange filing.

The company in the filing said its stock price has gone up over the years, making it "increasingly difficult for small potential shareholders to partake in the company's future".

"Keeping with the spirit of inclusion and in order to reward the shareholders, the board of directors at its meeting held today (Monday), approved and recommended the said corporate actions," it said.

The company also approved an increase in authorised share capital from Rs 75 crore to Rs 200 crore and said it would complete the issues on or before Dec. 8.

Recently, Nykaa also approved a bonus share issue of five new shares each for one held by the shareholders.

Shares of Easy Trip Planners gained as much as 6.3%, the most in a week, to Rs 428 apiece. Of the four analysts tracking the company, two maintain a 'buy' and one each suggest a 'hold' and a 'sell', according to Bloomberg data. The return potential of the stock implies a downside of 0.4%.