 "Nishant Pitti sells 14% stake in Easy Trip Planners, triggering a 15% share price drop amid significant market turbulence.")
Nishant Pitti, a co-founder of Easy Trip Planners, has sold a 14 percent stake in the company for Rs 920 crore through open Market transactions. The sale involved approximately 24.65 crore shares, with prices ranging from Rs 37.22 to Rs 38.28. Following this transaction, Pitti’s ownership in the company has decreased from 28.13 percent to 14.22 percent, while the promoters’ combined stake has dropped to 50.39 percent from 64.30 percent. In related transactions, Core4 Marcom and Craft Emerging Market Fund PCC acquired shares of Easy Trip Planners. The company’s shares fell by 15.32 percent in value, closing at Rs 34.70 on the National Stock Exchange. Easy Trip Planners is the parent company of the travel booking platform EaseMyTrip.
Nishant Pitti, a key promoter of Easy Trip Planners, recently sold a significant 14 percent stake in the company for an impressive Rs 920 crore. This transaction took place through open Market deals, where Pitti offloaded 24,65,49,833 shares at prices between Rs 37.22 and Rs 38.28 each. Following this, his holding in Easy Trip Planners has dropped from 28.13 percent to around 14.22 percent. Meanwhile, the total shareholding of the promoters declined from 64.30 percent to 50.39 percent.
In the same Market session, other investors made notable purchases as Core4 Marcom acquired 5 crore shares, and Craft Emerging Market Fund PCC bought 1.05 crore shares of Easy Trip Planners, with the shares priced between Rs 34.25 and Rs 37.95. The total value of these transactions was approximately Rs 225.71 crore.
Unfortunately, Easy Trip Planners saw a sharp decline in its share price, falling by 15.32 percent, finishing the day at Rs 34.70 on the NSE. Established in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti, Easy Trip Planners operates the popular online travel booking platform, EaseMyTrip.
Tags: Easy Trip Planners, Nishant Pitti, stock Market, EaseMyTrip, investment news, travel industry, NSE, shareholding.
What does it mean that Nishant Pitti sold a 14% stake in EaseMyTrip?
Nishant Pitti, one of the promoters, sold 14% of his shares in the travel company EaseMyTrip, which means he no longer owns that portion of the company.
How much money did he make from the sale?
He made Rs 920 crore from selling his 14% stake in EaseMyTrip.
Why did Nishant Pitti decide to sell his shares?
The exact reason for the sale isn’t mentioned, but promoters often sell shares for various reasons like raising funds or restructuring ownership.
What will happen to EaseMyTrip after this sale?
EaseMyTrip will continue to operate normally. The sale of shares by a promoter doesn’t usually affect the daily operations of the company.
Is this common in the business world?
Yes, it is quite common for company promoters to sell shares, especially if they want to invest elsewhere or need liquidity for personal or business reasons.
