EaseMyTrip, one of India’s largest online travel technology platforms, has announced the issuance of bonus shares in a move to reward its shareholders.
Following a board meeting held today, the company confirmed a 1:1 bonus equity share issuance, meaning that shareholders will receive one additional share for every fully paid-up share they hold.
This initiative marks the third bonus share announcement in recent years, reflecting EaseMyTrip’s ongoing commitment to its investors.
The new shares will be issued from the company’s available reserves as of March 31, 2024, reinforcing the company’s financial health and growth trajectory.
Nishant Pitti, CEO and Co-Founder of EaseMyTrip, expressed his appreciation for the shareholders, stating, “This bonus issuance reflects our gratitude to shareholders and underscores our confidence in the company’s strong financial health. As we expand, it’s important to continue sharing our success with those who have supported us throughout.”
Key Details of the Bonus Share Issuance:
- Bonus Ratio: 1:1 (one bonus share for every fully paid-up equity share)
- Total Shares Issued: 1,77,20,40,618 shares at a face value of ₹1 each
- Funding: The issuance will utilize ₹1,772.04 million from its total reserves of ₹3,973.96 million
- Post-Issuance Capital: After the bonus issuance, EaseMyTrip’s total share capital will increase to ₹3544.08 million.
EaseMyTrip has consistently demonstrated strong performance in the online travel market, remaining profitable while expanding its services into new segments.
The company’s customer-centric approach and innovative offerings have contributed to its rapid growth, evidenced by a compound annual growth rate (CAGR) of 47% in profits before tax from FY20 to FY24.
About EaseMyTrip
Founded in 2008, EaseMyTrip is a leading travel technology platform in India, specializing in a wide array of travel services without any convenience fees.
The platform connects users with over 400 airlines and 2 million hotels, offering rail, bus tickets, and taxi rentals.
Committed to providing comprehensive travel solutions, EaseMyTrip has established offices across major cities in India and has expanded internationally, with operations in the Philippines, Singapore, the UAE, the UK, the USA, and New Zealand.
