Easy Trip Planners Stake Sale Shifts Market Dynamics

Nishant Pitti, co-founder of Easy Trip Planners, sold a 1.4% stake in the company for Rs 78 crore. The transaction reduced his and the combined promoter stake in the firm. Arunaben Sanjaykumar Bhatiya acquired a significant portion. Easy Trip Planners' shares declined by 6.98% post-transaction.

Nishant Pitti, co-founder of Easy Trip Planners, divested a 1.4% stake in the company on Tuesday, generating a windfall of Rs 78 crore through an open market sale.

This transaction resulted in a dip of his personal stake from 14.21% to 12.8%, adjusting the combined promoter stakeholding in the company from 50.38% to 48.97%.

Arunaben Sanjaykumar Bhatiya emerged as a prominent buyer, acquiring 2.40 crore shares for Rs 38.06 crore. The market responded with Easy Trip Planners' shares falling 6.98% to Rs 15.85 on the NSE.

(With inputs from agencies.)