Promoter Nishant Pitti Sells 14% Stake in Easy Trip Planners for Rs 920 Crore

Nishant Pitti, one of Easy Trip Planners' promoters, sold a significant 14% stake in the company for Rs 920 crore through open market transactions. This sale reduces his holding to 14.22%. Other entities, including Core4 Marcom and Craft Emerging Market Fund PCC, were major buyers in the transaction.

In a significant move, Nishant Pitti, one of the promoters of Easy Trip Planners, divested a 14 per cent stake in the company through open market transactions on Wednesday, amounting to Rs 920 crore.

According to NSE bulk deal data, Pitti sold 24,65,49,833 shares within a price range of Rs 37.22-38.28 each, reducing his shareholding to 14.22 per cent from the previous 28.13 per cent. Collectively, the promoter holding has decreased from 64.30 per cent to 50.39 per cent.

Meanwhile, Core4 Marcom acquired 5 crore shares, and Craft Emerging Market Fund PCC -- Elite Capital Fund bought 1.05 crore shares, with transactions priced between Rs 34.25-37.95 apiece, summing up to Rs 225.71 crore. Easy Trip Planners' shares plunged 15.32 per cent, closing at Rs 34.70 each on the NSE.

(With inputs from agencies.)