Nishant Pitti, one of the three promoters has decided to sell his balance 14.21% stake in the Company.
- He is expected to sell it @15.6/ share i.e., Rs 780 cr via block deal.
- The Current trading price is Rs 17/ share.
- Various Institutional Investors such as CRAFT Emerging Market Fund PCC – Citadel Capital Fund, CRAFT Emerging Market Fund PCC – Elite Capital Fund, Multitude Growth Funds Limited, Nexpact Limited and Eminence Global Fund are likely to buy the stake.
- In September 2024 also, Nishant had divested 14% stake in the company for Rs 920 crore through open market transactions.
Post Nishant’s exit, the other two promoters Rikant Pittie and Prashant Pitti will be left with 36.17% stake in Easy Trip. It’s worth noting here that in March 2022, Promoters together held 74.9% stake.
In just two and half years, they have sold more than half of their stake !