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