“I, Nishant Piiti, Chairman and CEO of Easy Trip Planners Limited, hereby tender my resignation from the position of CEO due to personal reasons with effect from January 01, 2025. Kindly accept this resignation and relieve me from being the CEO of the company and acknowledge the receipt of this resignation,” said Pitti in his resignation letter attached by company in stock exchange filing.
After the announcement, shares of the company were trading in the red at Rs 15.85.
Earlier on Tuesday, Easy Trip Planners promoter and co-founder Nishant Pitti divested a 1.4 per cent stake in the company for Rs 78 crore through an open market transaction. Ease Trip Planners Ltd is the parent firm of online travel company EaseMyTrip.
According to the bulk deal data available on the National Stock Exchange (NSE), Nishant Pitti offloaded 4.99 crore shares or 1.41 per cent stake in Easy Trip Planners.
The shares were disposed of at an average price of Rs 15.68 apiece, taking the transaction value to Rs 78.32 crore.
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After the transaction, Pitti’s holding in Easy Trip Planners has come down to 12.8 per cent from 14.21 per cent. Also, the combined promoter stakeholding in the company has also declined to 48.97 per cent from 50.38 per cent.Meanwhile, Arunaben Sanjaykumar Bhatiya picked up 2.40 crore shares of Easy Trip Planners at an average price of Rs 15.86 per piece.
This took the deal value to Rs 38.06 crore.
Details of the other buyers of Easy Trip Planners’ shares could not be ascertained on the NSE.
In September 2023, Nishant Pitti had sold its 14 per cent stake in the company for Rs 920 crore via open market transactions.
Easy Trip Planners shares on Tuesday declined 6.98 per cent to close at Rs 15.85 apiece on the NSE.
