Nishant Pitti stake sale

Nishant Pitti Sells 14% Stake in Easy Trip Planners for ₹920 Crore in Major Market Move

In a bold market move, Nishant Pitti, co-founder and promoter of Easy Trip Planners, offloaded a significant 14% stake in the company on Wednesday, netting ₹920 crore through open market transactions. This sizable divestment has drawn attention, reshuffling the shareholding landscape for one of India’s leading online travel platforms.

A Big Stake in Play: What Happened?

According to data available on the National Stock Exchange (NSE), Pitti sold a total of 24,65,49,833 shares, representing a 14% stake in Easy Trip Planners. The shares were sold in the price range of ₹37.22-₹38.28 per share, accumulating a transaction value of ₹920.06 crore. This stake sale significantly reduces Pitti’s ownership in the company from 28.13% to 14.22%.

The Impact on Easy Trip Planners’ Promoter Holding

This sale wasn’t just a personal decision; it also had a broader impact on the overall shareholding structure. Following the transaction, the combined shareholding of the promoters (including Nishant Pitti, Rikant Pitti, and Prashant Pitti) dropped from 64.30% to 50.39%. The shift has naturally raised questions about the long-term strategy of Easy Trip Planners and its future in a competitive online travel industry.

Who Bought the Shares? The Key Players

While Nishant Pitti exited part of his stake, other major players entered the scene. Core4 Marcom, a rising name in the digital marketing space, scooped up 5 crore shares of Easy Trip Planners. Meanwhile, Craft Emerging Market Fund PCC – Elite Capital Fund also acquired 1.05 crore shares. Both investors picked up the shares in the price range of ₹34.25-₹37.95, with their combined deal value reaching ₹225.71 crore. However, the identities of other buyers involved in the transaction remain unclear.

Why This Matters: What Does It Mean for Easy Trip Planners?

The divestment is a significant milestone for Easy Trip Planners, the parent company behind the popular travel booking platform EaseMyTrip. Founded in 2008 by Nishant Pitti, along with Rikant and Prashant Pitti, the company has grown into one of India’s most trusted names in online travel booking.

However, the sudden drop in promoter stake has caused a ripple effect in the stock market. Shares of Easy Trip Planners plummeted by 15.32% on Wednesday, closing at ₹34.70 apiece on the NSE. The drastic dip suggests that investor sentiment may have been rattled by the sudden stake sale, despite the continued presence of key promoters in the company.

A Move Towards Expansion or Strategic Reallocation?

The big question remains: what’s next for Easy Trip Planners? While divesting a substantial stake, Nishant Pitti still holds 14.22% in the company, ensuring his continued involvement in strategic decisions. With new investors like Core4 Marcom and Craft Emerging Market Fund entering the fold, it appears that Easy Trip Planners could be in for further expansion or perhaps a strategic reallocation of assets as it navigates the complexities of the post-pandemic travel industry.

Conclusion:

Nishant Pitti’s decision to divest a significant portion of his stake in Easy Trip Planners signals a noteworthy shift in the company’s ownership structure. Nishant Pitti stake sale, While the move rattled the stock market, causing a dip in share prices, it also opens the door to fresh opportunities with new investors. The online travel sector is rebounding from the pandemic’s impact, and Easy Trip Planners’ strategic moves, bolstered by new shareholders, may define its future trajectory.

Only time will tell how this decision shapes the next chapter for one of India’s leading travel booking platforms.

FAQs:

1.Who is Nishant Pitti?

A. Nishant Pitti is one of the co-founders and promoters of Easy Trip Planners, the parent company of EaseMyTrip.

2.How much stake did Nishant Pitti sell?

A. Nishant Pitti sold a 14% stake in Easy Trip Planners, amounting to 24,65,49,833 shares.

3.What was the total value of the stake sale?

A. The transaction value of the sale was ₹920.06 crore.

4.What price range were the shares sold at?

A. The shares were sold in the price range of ₹37.22-₹38.28 per share.

5.What is Nishant Pitti’s current stake in the company?

A. After the sale, Nishant Pitti’s stake in Easy Trip Planners stands at 14.22%, down from 28.13%.

6.How did the sale impact promoter shareholding in Easy Trip Planners?

A. The total promoter shareholding dropped from 64.30% to 50.39% following the sale.

7.Who bought the shares that Nishant Pitti sold?

A. Core4 Marcom acquired 5 crore shares, and Craft Emerging Market Fund PCC – Elite Capital Fund bought 1.05 crore shares.

8.Did Easy Trip Planners’ stock price react to the sale?

A. Yes, the stock price of Easy Trip Planners dropped by 15.32%, closing at ₹34.70 per share on the NSE.

9.What is Easy Trip Planners?

A. Easy Trip Planners is an Indian company that operates the popular online travel booking platform EaseMyTrip.

10.When was Easy Trip Planners founded?

A. The company was founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti.

Nishant Pitti stake sale

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