The board of directors of listed traveltech startup EaseMyTrip approved the issuance of bonus shares in a 3:1 ratio as well as a stock split (October 10).
According to an exchange filing, the startup's board of directors approved the division of each existing equity share with a face value of INR 2 into two equity shares with a face value of INR 1. Furthermore, the board approved the issuance of bonus shares in the ratio of 3:1, i.e. three bonus shares for each fully paid-up equity share of the company. According to the filing, the bonus shares would be issued from the startup's free reserves as of March 31, 2022. EaseMyTrip stated that free reserves of INR 130.37 Cr would be required to implement the bonus issue, and as of March 31, 2022, it had free reserves of INR 196.31 Cr.