Promoter Nishant Pitti is selling a 1.41% stake in EaseMyTrip through a block deal

Easy trip planners Promoter and co-founder Nishant Beti sold a 1.41% stake representing Rs 5 crore shares On the online travel platform on Tuesday, December 31 via block deal. After this deal, Betty’s stake in the company remains at 12.80%.

Shares of Easy Trip Planners today fell 10% to hit today’s lows of Rs 15.36 on the NSE before settling at Rs 15.85, down Rs 1.19 or 6.98%. The blockbuster deal triggered selling pressure over the counter as over Rs 27 lakh crore shares were traded on the NSE at the time of closing.

Details of the buyers, as well as the price at which the shares were sold, are not yet known.

Institutional investors like CRAFT Emerging Market finance PCC – Castle capital Fund, CRAFT Emerging Market Fund PCC – Elite Capital Fund, Multitude Growth Funds Limited, Nexpact Limited and Eminence Global Fund are expected to participate in the deal, a CNBC report said on Monday.

Apart from Beti, the other promoters are Prashant Bete and Rekant Bete. While Prashant holds 10.29% in EaseMyTrip, Rekant’s stake is 25.88%. Between the three, they have a 48.97% stake.

Nishant Pitti in September divested a 14% stake in the company for Rs 920 crore through open market transactions. Shares of Easy Trip Planners are down about 22% over one year and remain a market laggard. In other news, the company opened its 24th showroom on Monday privilege Store in Chhattisgarh.

This latest addition strengthens the company’s offline presence within its flagship EaseMyTrip franchise programme. “The store offers a wide range of travel services, including domestic and international flight reservations, beloved Hotel accommodation, customized holiday packages, seamless bus and rail bookings. Travelers can also take advantage of luxury cruise reservations, visa assistance, and corporate travel solutions, all designed to provide a personalized travel experience.

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