Shares of Easy Trip Planners Ltd (EaseMyTrip) dropped by nearly 10% to ₹15.43 during Tuesday’s trading session following reports that promoter Nishant Pitti plans to offload his entire 14.21% stake worth approximately ₹780 crore through a block deal. The deal is reportedly priced at ₹15.6 per share, representing a 13% discount to the previous closing price.
Approximately 3.4 crore shares, representing 0.9% equity and valued at ₹53 crore, were exchanged in block deals on Tuesday, December 31, at a price of ₹15.5 per share. The significant trade activity is currently ongoing.
Key Highlights:
- Stake Sale Details: Nishant Pitti, who previously reduced his holding by 14% in September, will see his promoter stake drop from 50.4% to 36.2% following this transaction.
- Potential Buyers: Institutional investors are expected to participate in the deal.
- Market Reaction: The stock fell sharply on the news, reflecting investor concerns over the significant stake dilution.
Easy Trip Planners Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Mon, Dec 30 2024
|
₹16.52
|
₹17.04
|
|
|
Fri, Dec 27 2024
|
₹16.89
|
₹16.53
|
-2.25%
|
|
Thu, Dec 26 2024
|
₹16.44
|
₹16.91
|
|
|
Tue, Dec 24 2024
|
₹16.60
|
₹16.47
|
-0.90%
|
|
Mon, Dec 23 2024
|
₹16.32
|
₹16.62
|
|
|
Fri, Dec 20 2024
|
₹16.68
|
₹16.18
|
-2.41%
|
|
Thu, Dec 19 2024
|
₹16.50
|
₹16.58
|
-1.72%
|
|
Wed, Dec 18 2024
|
₹17.06
|
₹16.87
|
-0.88%
|
EaseMyTrip shares have been under pressure due to consistent stake sales by promoters, raising questions about the long-term outlook.
TOPICS:
EaseMyTrip