Nishant Pitti Sells 1.4% Stake in Easy Trip Planners for Rs 78 Crore Through Open Market Transaction

Nishant Pitti, co-founder of Easy Trip Planners, sold a 1.4% stake in the company for Rs 78 crore on Tuesday. This transaction was executed through the open market. Easy Trip Planners Ltd is the parent company of EaseMyTrip, an online travel service provider.

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According to data from the National Stock Exchange (NSE), Nishant Pitti sold 4.99 crore shares, representing a 1.41% stake in Easy Trip Planners. The shares were sold at an average price of Rs 15.68 each, resulting in a total transaction value of Rs 78.32 crore.

Stake Changes and Market Impact

Following this sale, Nishant Pitti's ownership in Easy Trip Planners decreased from 14.21% to 12.8%. Additionally, the overall promoter stake in the company dropped from 50.38% to 48.97%. Meanwhile, Arunaben Sanjaykumar Bhatiya acquired 2.40 crore shares at an average price of Rs 15.86 per share, amounting to Rs 38.06 crore.

The identity of other buyers involved in purchasing Easy Trip Planners shares remains undisclosed on the NSE platform. In September 2023, Nishant Pitti had previously sold a significant 14% stake for Rs 920 crore through open market transactions.

Market Reaction and Share Performance

On Tuesday, Easy Trip Planners' shares fell by 6.98%, closing at Rs 15.85 each on the NSE. This decline followed the announcement of Nishant Pitti's stake sale and reflects market reactions to these developments.

The recent transactions highlight ongoing changes in shareholder dynamics within Easy Trip Planners as stakeholders adjust their positions in response to market conditions and strategic decisions.