Mumbai4 days ago
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Shares of online travel aggregator Easy My Trip Planners Limited rose by about 4% today i.e. Monday (January 6). Its co-promoter Nishant Pitti has confirmed that there will be no further stake sale.
Pitti told a TV channel in an interview that last week he had sold 1.4% stake due to personal requirements, but going forward he, Prashant or Rekant Pitti will not sell any more stake in the company.
Rikant Pitti was made the new CEO
A day after the stake sale, Pitti stepped down as CEO of the company and Rikant Pitti was made the new CEO. Nishant Pitti will remain the chairman of the company. Nishant said that he will continue to focus on international expansion for the company.
Nishant Pitti said – everything is fine between the three brothers
Nishant Pitti told that everything is fine between the three brothers and he will continue on the post of chairman of the board. He said the funds raised from the stake sale will be used for investment in the travel sector. The company also has cash worth Rs 400 crore in its books, Pitti said.
Nishant was about to sell 14% stake, but sold only 1.4%.
Easy Trip shares were in focus last week when Nishant Pitti announced on Monday that he would exit the company by selling his remaining 14% stake in the company. However, only 1.4% of that stake was sold and Pitti stepped down the next day.
Shares had risen by about 17% in early trade
Shares of Easy Trip Planner were trading nearly 17% higher at ₹18.25 in early trade, but closed 3.68% higher at ₹16.08. The company’s shares had closed at Rs 15.51 on Friday.