Nishant Pitti Resigns As EaseMyTrip CEO, Sells 1.41% Stake In Block Deal
Easy Trip Planners Ltd., the parent company of online travel aggregator EaseMyTrip, announced on Wednesday that its Chief Executive Officer and one of the promoters, Nishant Pitti, has resigned effective Jan. 1, citing personal reasons.
The company's board of directors has approved the appointment of Rikant Pitti, the company's CFO and Nishant's brother, as the new CEO with immediate effect, according to an exchange filing.
On Dec. 31, Easy Trip promoter Nishant Pitti divested a 1.4% stake in the company for Rs 78.32 crore through an open market transaction. He offloaded 4.99 crore shares, representing a 1.41% stake in the company, according to the bulk deal data available on the National Stock Exchange. Following this transaction, Pitti's stake in Easy Trip has reduced to 12.8%, while the combined promoter holding has decreased to 48.97% from 50.38%.
Earlier in September, Nishant Pitti had divested a significant 14% stake in the company, raising Rs 920 crore through open market transactions.
EaseMyTrip, operated by Easy Trip Planners, was founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti. The company has made several notable moves in recent months. In October, the board approved the issuance of bonus shares in a 1:1 ratio. The following month, it launched EMT Desk, an all-in-one platform aimed at transforming corporate travel.
Rikant Pitti, who co-founded EaseMyTrip in 2008, has played a key role in its growth and success. With over 16 years of experience in the travel and tourism industry, Rikant has developed a deep understanding of market trends and customer needs, positioning him well to lead the company into its next phase.
Easy Trip Planners Share Price Today
The travel company's stock was trading 1.07% lower at Rs 15.69 apiece, compared to a 0.39% advance in the benchmark Nifty 50 as of 15:22 p.m.
It has fallen 22.70% on a 12-month basis. The relative strength index was at 42.32.
The one analyst tracking the stock has a 'sell' rating on it, according to Bloomberg data. The 12-month analyst target price on the stock is Rs 21, implying an upside of 33%.
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
-
Wrong Labels, High Pesticide Residues Holding Back Agri Exports | The Reason Why
India needs stronger domestic food-safety and labelling standards, with best practices becoming part of everyday business for farmers, traders and food companies.
