Nishant Pitti says no plans of further stake sale

Nishant Pitti, who stepped down as the CEO of Easy Trip Planners on January 1, has said that he will not be selling any more stake in the company. 

In December, he sold a 1.4% stake in the company for Rs 78 crore. In September 2023, he had sold another 14% stake for Rs 920 crore. Currently, he holds 12.8% of the company.

Also ReadZomato, Swiggy may continue Rs 10 fee after festive season

In a post on social media platform X, Pitti said that he would “limit” his share sale. 

Also Read Indian Oil Corporation Share Price Today Highlights, 26 Dec, 2024: Indian Oil Corporation closes 0.28% lower Tata Motors, Tata Chemicals, Tata Investment and other Tata Group stocks surge 12% on Tata Capital IPO buzz Noel N Tata: Tata Trusts’ new chairman set to navigate key decisions in 2025 Adani Enterprises shares down 1%; favourable ruling in Dharavi redevelopment case fails to cheer up stock

“With a talented team and Rikant’s visionary leadership, EaseMyTrip is on a strong growth path. To honour your trust, I have thoughtfully limited my share sale and confirm there will be no further sales from my side,” Pitti said in the post. 

He added that the earlier stake sale was undertaken due to “personal reasons”.

“I want to assure you this does not reflect any lack of confidence in EaseMyTrip’s bright future,” he added in the post. 

With the latest stake sale by Pitti, the combined promoter stake in Easy Trip Planners has declined to 48.97% from 50.38%. 

Brothers Nishant, Rikant and Prashant Pitti are the promoters of the company. Rikant, who was the company’s CFO, has taken over as the new CEO. Prashant is the MD. 

Rikant holds close to 26% stake in the company. Prashant holds around another 10%. 

In an earnings call after the September quarter results, Prashant had said that the promoter family is “very committed” to the company.

Also ReadA little more than just food: 4,940 users searched for ‘girlfriend’, 40 for ‘dulhan’ on Zomato in 2024

“As a promoter family, we are still very, very committed to the company. Most of the Internet company founders, only have 2% to 10% of the shareholding in their company,

 » Read More

Related Articles

Gurugram surpasses Mumbai and Dubai in ultra-luxury housing market – Check average property price

2024 has proven to be a groundbreaking year for India’s luxury real estate market. From stellar deals in Gurugram to blockbuster sales in Mumbai, the super-luxury living trend is reshaping the real estate landscape. Gurugram, in particular, has emerged as a fierce competitor to Mumbai and Dubai in the luxury real estate category, setting new

Fixed deposits offering more than 8% interest rates on 1-2 year FDs – Compare the latest rates

Interest rates on fixed deposits (FDs) are currently relatively high. Smaller banks in India are offering rates that catch the eye. But should you take the plunge? Here’s a simple breakdown. Foreign and small banks often offer higher interest rates as they want to attract more customers. It helps them compete with bigger players. They

The first after listing: MobiKwik slips into loss of Rs 3.59 crore in Q2FY25, payments GMV up by 267.3% YoY

One Mobikwik Systems Ltd, the parent company of MobiKwik, on Tuesday announced its quarter earnings for Q2FY25 with a loss of Rs 3.59 crore on account of continued investments in the business for the next growth phase. It had recorded a profit of Rs 5.23 crore during the same period of previous financial year. This

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Gurugram surpasses Mumbai and Dubai in ultra-luxury housing market – Check average property price

2024 has proven to be a groundbreaking year for India’s luxury real estate market. From stellar deals in Gurugram to blockbuster sales in Mumbai, the super-luxury living trend is reshaping the real estate landscape. Gurugram, in particular, has emerged as a fierce competitor to Mumbai and Dubai in the luxury real estate category, setting new

Fixed deposits offering more than 8% interest rates on 1-2 year FDs – Compare the latest rates

Interest rates on fixed deposits (FDs) are currently relatively high. Smaller banks in India are offering rates that catch the eye. But should you take the plunge? Here’s a simple breakdown. Foreign and small banks often offer higher interest rates as they want to attract more customers. It helps them compete with bigger players. They

The first after listing: MobiKwik slips into loss of Rs 3.59 crore in Q2FY25, payments GMV up by 267.3% YoY

One Mobikwik Systems Ltd, the parent company of MobiKwik, on Tuesday announced its quarter earnings for Q2FY25 with a loss of Rs 3.59 crore on account of continued investments in the business for the next growth phase. It had recorded a profit of Rs 5.23 crore during the same period of previous financial year. This

Marico Q3 Preview: Can price hike stem margin contraction?

FMCG major Marico is expected to post better-than-expected mid-teens consolidated sales growth during the third quarter of FY25, led by pricing growth, said brokerage firms. Morgan Stanley said that the company will post Q3 revenue growth in mid-teens, ahead of the estimate as demand trends remained steady with improved rural consumption and stable urban growth.

Why is Nifty Bank going up- top gainers in Bank Nifty today

The Nifty Bank Index has been in focus lately, after it slipped to a six-week low. The index today, January 7, managed to bounce back slightly, trading at 50,342.95, up by 0.84%,as of 1:21 PM IST. Despite this recovery, the index has faced a notable decline in recent weeks and months, with many market watchers