Nishant Pitti, promoter of EaseMyTrip, sells 14% stake for Rs 920 cr

Nishant Pitti, one of the promoters of Easy Trip Planners has divested a 14 per cent stake in the company for Rs 920 crore through open market transactions. According to the bulk deal data available on the NSE, Nishant Pitti sold 24,65,49,833 shares, amounting to a 14 per cent stake in Easy Trip Planners. The shares were offloaded in the price range of Rs 37.22-38.28 apiece, taking the combined transaction value to Rs 920.06 crore.

After the stake sale, Nishant Pitti's holding in Easy Trip Planners has come down to 14.22 per cent from 28.13 per cent. Also, the combined shareholding of the promoters' has declined to 50.39 per cent from 64.30 per cent. Meanwhile, Core4 Marcom picked up 5 crore shares of Easy Trip Planners and Craft Emerging Market Fund PCC -- Elite Capital Fund acquired 1.05 crore shares of the company, the data showed on the National Stock Exchange (NSE).

The shares were purchased in the price range of Rs 34.25-37.95 apiece, taking the aggregate deal value to Rs 225.71 crore. Details of other buyers of Easy Trip Planners' shares could not be ascertained. Easy Trip Planners is the parent company of online travel booking platform EaseMyTrip. The company was founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti.

(Source: PTI)