EaseMyTrip's co-founder Nishant Pitti will sell his remaining stake in the company, of 14 percent, for Rs 780 crore on December 31, according to sources. EaseMyTrip is the brand operated by the listed Easy Trip Planner.
Pitti is expected to sell 50 crore shares at Rs 15.6 per unit.
According to Moneycontrol's sources, institutional investors such as CRAFT Emerging Market Fund PCC - Citadel Capital Fund, CRAFT Emerging Market Fund PCC - Elite Capital Fund, Multitude Growth Funds Limited, Nexpact Limited and Eminence Global Fund are likely to participate in the block deal.
Previously, Moneycontrol was the first to report that Pitti was expected to sell 15 crore shares of 8.5 percent of the total share capital in a block deal on September 25. The floor price per share was expected to be Rs 38 for a total transaction value of nearly Rs 580 crore.
On September 25, Pitti sold 24.65 crore shares or 14 percent of the total share capital for Rs 37.11 to Rs 38.28 per unit, totalling to Rs 920 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
