“We wish to inform that a meeting of Board of Directors of the Company is scheduled to be held on Monday, October 14, 2024 at 01:00 P.M. through video conferencing, inter alia, to consider and approve the issue of bonus shares,” said the company in an exchange filing.
Other details regarding the ratio in which bonus shares will be allotted or the record date for the purpose have not yet been disclosed by the company.
According to data available on Trendlyne, this will be the third instance of the company issuing bonus shares to its shareholders. Prior to this, bonus shares were allotted in the ratio 1:1 in February 2022 and then later in the ratio 3:1 in November 2022.
Companies typically issue bonus shares to utilize their free reserves, boost Earnings Per Share (EPS), and expand paid-up capital while reducing reserves. These shares, often called free shares, are distributed to shareholders at no extra cost.
Also read: Trent shares rally 12% in 2 days after launching its lab-grown diamond brandThe investors must purchase the stock before the ex-date to qualify for bonus shares, as those buying on or after the ex-date won’t be eligible.As of the quarter ended June 2024, 64.3% of the company’s equity is held by the promoters and the promoter group while the remaining shares lies in the hands of the public.
Shares of Easy Trip Planners closed 3.5% higher at Rs 34.13 on BSE today.
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