India’s second-largest online travel platform EaseMyTrip announced that its board of directors at its meeting held on January 12, 2022, have approved and recommended the issuance of fully paid-up bonus shares in the ratio of 1:1 out of its free reserves created out of profit, subject to the shareholders’ approval through postal ballot.

The record date will be announced in due course. The pre-bonus issue paid-up equity share capital as of date is Rs 217,290,000 divided into 108,645,000 equity shares of Rs 2/- each.

The post-bonus paid-up share capital Rs 434,580,000 divided into 217,290,000 equity shares of Rs 2- each. The bonus shares come on the heels of remarkable results for the company, where it achieved a profit jump of more than four-fold in Q2FY22, generating strong and sustainable value for its stakeholders, the company said in a press release.

In an effort to strengthen the non-air segment, EaseMyTrip has also recently announced acquiring companies like Spree Hospitality, Traviate and Yolobus. On the back of this phenomenal growth across all segments, the company has also declared interim dividends twice since its listing in March 2021.

Nishant Pitti, CEO and Co-Founder, EaseMyTrip said, “Despite the challenges faced due to the pandemic, EaseMyTrip has consistently recorded profitable results due to a sustainable and resilient business model. Looking at the new avenues for growth from the non-air segment and our continued focus on financial and operational efficiency, we will continue to generate value for our stakeholders. Through the issuance of bonus shares, we want to reward our existing shareholders, allowing them to increase their equity in the group and gain greater exposure to our future growth.”

EaseMyTrip parent Easy Trip Planners Ltd had raised Rs 510 crore in its public market debut last year. The company has been profitable since its inception and continues to have very strong plans for this year as well.