Bonus Shares In 2-Days: Travel Stock Under Rs 40 Gives Latest Acquisition Update

BSE 500 company engaged in tour and travel industry Easy Trip Planners Ltd shares zoomed over 2% in last 1-week as the Board of Directors will hold meeting on October 14, 2024 to consider and approve issue of bonus shares. Last trading price of Easy Trip Planners shares on BSE is Rs 34.20. The company also gave acquisition update on Rollins International Private Limited today regarding its proposed investment of 30%. The company has a market capitalisation of Rs 6060.38 crore. Check details below:

Easy Trip Planners To Recommend Bonus Share: As per the exchange filing Easy Trip Planners dated October 9, 2024, "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."

Easy Trip Planners Gives Acquisition Update: The company on October 12, 2024 issued acquisition update via its BSE filing. As per the exchange filing, "In continuation to our above referenced intimation to the stock exchanges dated September 17, 2024, the Company has on October 11, 2024 entered into the definitive agreements i.e., the Share Subscription Agreement and the Shareholders' Agreement in connection with the proposed investment of 30% (thirty percent) in the aggregate post money paid-up equity share capital of Rollins International Private Limited ("Rollins") for a value of INR 60,00,00,000 (Indian Rupees Sixty Crores Only) by subscribing to the new equity shares of Rollins for which the subscription amount will be paid by the Company by way of equity share swap, i.e., issuance of its own fully paid-up equity shares to Rollins on preferential basis. Further, the said proposed investment is subject to the completion of customary conditions precedent and obtaining the relevant regulatory approvals as may be required, if any, under the applicable law(s) including without limitation the approval of the shareholders of the Company."

Easy Trip Planners Shares Performance: The 52-week high price of Easy Trip Planners shares on BSE is Rs 54.00 per share (as on 08/02/2024) and 52-week low price is Rs 31.71 per share (as on 07/10/2024), respectively. Easy Trip Planners shares gave return of 2.67% in last 1-week, slipped 25% in last 6-months, and fell again 18% in last 1-year. In last 2-years, Easy Trip Planners shares dipped 31%.

About: EaseMyTrip (a public listed company at NSE and BSE) is India's one of largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. Furthermore, growing at a CAGR of 59% during FY20-23 in profits, it is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers 'End to End' travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services. EaseMyTrip offers its users the option of zeroconvenience fees during bookings.

Disclaimer: The stock highlights the bonus share, acquisition and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.