EaseMyTrip promoter Nishant Pitti sells 14% stake

Nishant Pitti, one of the promoters of Easy Trip Planners,  has divested a 14 per cent stake in the company for Rs 920 crore through open market transactions. According to the information available, Nishant Pitti's holding in the company has now come down to 14.22 per.

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.

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.

 Meanwhile, the company has announced venturing into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility, which will manufacture EV buses, with YoloBus serving as its operating arm. YoloBus is a subsidiary of EaseMyTrip.
 
EaseMyTrip said it is investing Rs 200 crore for extensive research and development (R&D), product development, and manufacturing plant establishment over 2-3 years.