Easy Trip Planners share price jumps 9% on bonus share, split news – key things investors should know

"The Board of Directors of the company is scheduled to be held on Monday, October 10, 2022, at 10:00 A.M through video conferencing for considering the proposal for increase in Authorised Share Capital, issue of Bonus Shares and/or SubDivision/Split of Share."

The scrip is trading near its 52-week high of Rs 476.5 per share that it had touched on May 24, 2022: Official Website

Easy Trip Planners' share price zoomed over 9 per cent on Tuesday to touch day’s high of Rs 418 apiece on the BSE intraday after the company announced plans to issue bonus and split its shares in an exchange filing. Easy Trip Planners, which operates EaseMyTrip.com, in a regulatory filing said, “The Board of Directors of the company is scheduled to be held on Monday, October 10, 2022, at 10:00 A.M through video conferencing for considering the proposal for increase in Authorised Share Capital, issue of Bonus Shares and/or SubDivision/Split of Share.”

At around 11:55 AM, the stock was trading around 8 per cent higher to Rs 412.9 per share on the BSE as compared to a 1.9 per cent rise in the S&P BSE Sensex. The stock in 2022 has gained over 53 per cent against over 2 per cent fall in the benchmark index.

The scrip is trading near its 52-week high of Rs 476.5 per share that it had touched on May 24, 2022. The had hit 52-week low of Rs 225.5 on October 26, 2021.

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It should be noted that the stock split is generally undertaken to make the stock more affordable for retail investors and increase liquidity. It refers to splitting the face value of shares, in which the number of shares of the company increases but the market capitalisation stays the same.

Existing shares split, but the underlying value remains unchanged, as the number of shares increases, the price per share goes down.

Easy Trip Planners made an exchange debut on March 19, 2021, raising over Rs 510 crore through a public offer by issuing shares at a price of Rs 93.50 per share (adjusted to 1:1 bonus share). The company earlier had issued bonus shares in the ratio of 1:1 during the financial year 2021-22.

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