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Easy Trip Planners announces stock split and bonus issue; shares jump
Easy Trip Planners Ltd on Monday informed that its board has approved bonus issue of three shares for every one share held i.e., 3:1 ratio and also has given nod for the stock split in the ratio of 1:2. “This is to inform that the board at its meeting held today i.e., 10th October, 2022, has inter-alia, considered and approved the following items subject to shareholder’s approval: Sub-division/Split of each existing equity share of face value of ₹2/- into 2 equity shares of face value of ₹1/- fully paid- up and the issue of three bonus equity shares for every one fully paid-up equity share," the company announced in an exchange filing today. Explaining the rationale, it said that "the company and its subsidiaries have grown significantly, in terms of business and performance, over the years. As and when the stock price rises further, it will be 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. A stock split increases the number of shares that are outstanding by issuing more shares to the current shareholders. Source - Mint
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