Nishant Pitti Sells 14% Stake in EaseMyTrip for Rs 920 Crore Through Open Market Transactions

Nishant Pitti, a promoter of Easy Trip Planners, sold a 14% stake in the company on Wednesday. This transaction was valued at Rs 920 crore and conducted through open market deals. According to NSE bulk deal data, Nishant Pitti sold 24,65,49,833 shares, representing a 14% stake in the company.

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Following this sale, Nishant Pitti's ownership in Easy Trip Planners decreased from 28.13% to 14.22%. The overall promoter shareholding also dropped from 64.30% to 50.39%. The shares were sold at prices ranging from Rs 37.22 to Rs 38.28 each, resulting in a total transaction value of Rs 920.06 crore.

Stake Acquisition by Core4 Marcom and Craft Emerging Market Fund

Core4 Marcom acquired 5 crore shares of Easy Trip Planners, while Craft Emerging Market Fund PCC -- Elite Capital Fund purchased 1.05 crore shares. These acquisitions were made at prices between Rs 34.25 and Rs 37.95 per share, with a combined deal value of Rs 225.71 crore.

The identities of other buyers involved in acquiring shares of Easy Trip Planners remain undisclosed. Easy Trip Planners is the parent company of EaseMyTrip, an online travel booking platform established in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti.

Impact on Share Prices

On Wednesday, shares of Easy Trip Planners experienced a significant decline of 15.32%, closing at Rs 34.70 per share on the NSE.

This development highlights the dynamic nature of stock market transactions and their impact on company ownership and share prices.