A block deal involving shares worth Rs 176.5 crore of EaseMyTrip (Easy Trip Planners Ltd) took place on the exchanges on September 25. Around 4.6 crore shares, representing a 2.6 percent stake in EaseMyTrip changed hands at a floor price of Rs 38 apiece, implying a marginal discount to the previous closing price.
Following the block deal, shares of the travel aggregator slipped to its lower circuit of 20 percent on the NSE, to quote Rs 32.78 apiece.
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Earlier, Moneycontrol exclusively reported that the promoter of EaseMyTrip (Easy Trip Planners Ltd) Nishant Pitti is expected to sell 15 crore shares or 8.5 percent of the total share capital in a block deal on September 25, according to sources. Nishant Pitti held a 28.1 percent stake as of June 2024.
The floor price per share was expected to be Rs 38 for a total transaction value of nearly Rs 580 crore. The buyer is expected to be multiple institutional investors, according to sources.
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 Oswal and SMC.
Easemytrip closed at Rs 40.99 per unit on September 24, down 1.3 percent. Over the past year, Easy Trip Planners shares have traded flat, recording a meagre loss of two percent. In comparison, the headline Nifty 50 index surged 31 percent during the same time period.
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