Easy Trip Planners stock plunges 7% on block deal; promoter likely seller
Easy Trip Planners share price: The stock fell 7.46 per cent to hit a low of Rs 37.96 on BSE. With this, the stock is down 13.60 per cent in the past six months. It has also erased its year-to-date gains.
- Sep 25, 2024,
- Updated Sep 25, 2024 9:45 AM IST
Shares of Easy Trip Planners Ltd (EaseMyTrip) tanked 8 per cent in Wednesday's trade amid huge turnover, in the wake of reports that promoter Nishant Pitti was looking to sell 15 crore shares, comprising 8.5 per cent of the total share capital of the company, in a block deal today. Within few minutes into trading, the Easy Trip Planners saw a turnover of Rs 704.75 crore on NSE. On BSE, the counter witnessed a turnover of Rs 62 crore, as 1.62 crore shares changed hands against a two week average of 9.87 lakh shares.
The stock fell 7.46 per cent to hit a low of Rs 37.96 on BSE. With this, the stock is down 13.60 per cent in the past six months. It has also erased its year-to-date gains. As per the report, the floor price for the block deal was set at Rs 38 and the block deal was estimated at Rs 580 crore. Multiple institutional investors were seen as potential buyers, sources told Moneycontrol.
Easy Trip Planners is a domestic online travel agency (OTA), which was established by three brothers Nishant, Rikant, and Prashant. It is engaged in airline ticketing, hotels, and holiday packages through B2C, B2E, and B2B2C channels, including partnerships with traditional agents in Tier II & III cities.
Nishant Pitti held 49,84,10,788 shares or 28.13 per cent stake in Easy Trip Planners as on June 30. Rikant held 45,86,40,176 shares or 25.88 per cent stake, while Prashant owned 18,23,27,120 shares or 10.29 per cent stake in Easy Trip Planners as on June 30. The promoter group held 1,13,93,78,084 shares or 64.30 per cent stake in the travel company at the end of June quarter.
Pitti, CEO of EasemyTrip, in a reply to email sent by Moneycontrol said that they will selling a block of shares through their brokers Motilal and SMC. Easy Trip Planners recently announced Bank of Baroda EaseMyTrip Co-branded Travel Debit Card, designed to cater to frequent travellers and entertainment & lifestyle enthusiasts. This is the first co-branded travel debit card to be launched by a public sector bank.
Shares of Easy Trip Planners Ltd (EaseMyTrip) tanked 8 per cent in Wednesday's trade amid huge turnover, in the wake of reports that promoter Nishant Pitti was looking to sell 15 crore shares, comprising 8.5 per cent of the total share capital of the company, in a block deal today. Within few minutes into trading, the Easy Trip Planners saw a turnover of Rs 704.75 crore on NSE. On BSE, the counter witnessed a turnover of Rs 62 crore, as 1.62 crore shares changed hands against a two week average of 9.87 lakh shares.
The stock fell 7.46 per cent to hit a low of Rs 37.96 on BSE. With this, the stock is down 13.60 per cent in the past six months. It has also erased its year-to-date gains. As per the report, the floor price for the block deal was set at Rs 38 and the block deal was estimated at Rs 580 crore. Multiple institutional investors were seen as potential buyers, sources told Moneycontrol.
Easy Trip Planners is a domestic online travel agency (OTA), which was established by three brothers Nishant, Rikant, and Prashant. It is engaged in airline ticketing, hotels, and holiday packages through B2C, B2E, and B2B2C channels, including partnerships with traditional agents in Tier II & III cities.
Nishant Pitti held 49,84,10,788 shares or 28.13 per cent stake in Easy Trip Planners as on June 30. Rikant held 45,86,40,176 shares or 25.88 per cent stake, while Prashant owned 18,23,27,120 shares or 10.29 per cent stake in Easy Trip Planners as on June 30. The promoter group held 1,13,93,78,084 shares or 64.30 per cent stake in the travel company at the end of June quarter.
Pitti, CEO of EasemyTrip, in a reply to email sent by Moneycontrol said that they will selling a block of shares through their brokers Motilal and SMC. Easy Trip Planners recently announced Bank of Baroda EaseMyTrip Co-branded Travel Debit Card, designed to cater to frequent travellers and entertainment & lifestyle enthusiasts. This is the first co-branded travel debit card to be launched by a public sector bank.