Rikant Patti offloads 5.75% stake in Easy Trip Planners

3 Jul 2023 , 11:45 AM

Easy Trip Planners (EaseMyTrip) announced that a promoter of the company pared 5.75% stake via open market transactions.

Rikant Pitti, one of the three promoters, owned approximately 32.27% of the company prior to the stake sale, and his shareholding now stands at 26.38%. There were no specifics about the deal’s value or size.

The other two promoters of the company, Nishant Pitti and Prashant Pitti, did not participate in the stake sale. They own approximately 28.6% and 10.4% stake in the company, respectively.

At around 11.36 AM, Ease My Trip was trading 2.10% higher at Rs 41.35, against the previous close of Rs 40.50 on NSE. The counter hit an intraday high of Rs 41.80 in today’s trade, which is about 5% higher than previous closing.

In terms of air ticket bookings, EaseMyTrip is one of the largest online travel platforms. Profits increased at a CAGR of 59% during FY23.

The company provides complete travel solutions, including air tickets, hotel and vacation packages, rail and bus tickets, and ancillary value-added services.

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