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EaseMyTrip co-founder to exit company with Rs 780 crore stake sale

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EaseMyTrip co-founder to exit company with Rs 780 crore stake sale

EaseMyTrip co-founder Nishant Pitti is set to sell his remaining 14% stake in the company for Rs 780 crore through a block deal scheduled for December 31, according to reports. The transaction involves 50 crore shares priced at Rs 15.6 per unit.

Several prominent institutional investors are reportedly lined up to participate in the deal, including CRAFT Emerging Market Fund PCC’s Citadel Capital Fund and Elite Capital Fund, along with Multitude Growth Funds Limited, Nexpact Limited, and Eminence Global Fund. 

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The sale would mark Pitti’s complete exit from EaseMyTrip, the brand operated by the listed entity Easy Trip Planner. This follows Pitti’s earlier significant divestment in September 2023, when he sold 24.65 crore shares, representing 14% of the total share capital, at prices ranging between Rs 37.11 and Rs 38.28 per unit. That transaction was valued at approximately Rs 920 crore.

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