Image Source : EASEMYTRIP (X) EaseMyTrip.
EaseMyTrip: Online travel tech aggregator EaseMyTrip on Wednesday (January 1) said its Co-Founder and CEO Nishant Pitti has resigned on account of “personal reasons”. His brother and Co-Founder Rikant Pittie, who is currently the company’s Executive Director, has been appointed as the new CEO.
“In his new role, Rikant will lead the company’s strategic initiatives, drive innovation, and enhance customer experiences to further strengthen EaseMyTrip’s position in the industry,” the company stated in a regulatory filing.
A graduate from Kurukshetra University, Ambala, Pittie co-founded the company in 2008. He holds about 16 years of experience in tourism, travel, HR, and technology. In his new role, he will lead the company’s strategic initiatives, drive innovation, and enhance customer experiences to strengthen Ease My Trip’s position in the industry, the filing said.
Shares of Ease My Trip were trading at Rs 15.85 apiece on the BSE on Wednesday, 0.13 per cent lower than the previous close.
Nishant Pitti sold 14 pc stake in EaseMyTrip
In September 2024, Nishant Pitti, one of the promoter of Easy Trip Planners, divested a 14 per cent stake in the company for Rs 920 crore through open market transactions. According to the bulk deal data available on the NSE, Nishant Pitti sold 24,65,49,833 shares, amounting to a 14 per cent stake in Easy Trip Planners. The shares were offloaded in the price range of Rs 37.22-38.28 apiece, taking the combined transaction value to Rs 920.06 crore.
After the stake sale, Nishant Pitti’s holding in Easy Trip Planners has come down to 14.22 per cent from 28.13 per cent. Also, the combined shareholding of the promoters’ has declined to 50.39 per cent from 64.30 per cent.
Meanwhile, Core4 Marcom picked up 5 crore shares of Easy Trip Planners and Craft Emerging Market Fund PCC- Elite Capital Fund acquired 1.05 crore shares of the company, the data showed on the National Stock Exchange (NSE). The shares were purchased in the price range of Rs 34.25-37.95 apiece, taking the aggregate deal value to Rs 225.71 crore.
Details of other buyers of Easy Trip Planners’ shares could not be ascertained.
