 "EaseMyTrip shares fall 10% in 3 days; Co appoints Rikant Pittie as new CEO")
Easy Trip Planners share price continued to reel under selling pressure for a third straight day on Thursday, January 2, 2025. Easy Trip share, which fell 2.4 per cent intraday today, has tumbled 10.08 per cent in 3 days.
By comparison, the benchmark BSE Sensex has added 1.3 per cent during the period.
The decline in Easy Trip Planners, the owner of Ease My Trip, comes even as the company said it has appointed Rikant Pittie as its new Chief Executive Officer (CEO).
Rikant, the company’s statement said, will lead the Easy Trip Planners’ strategic initiatives, drive innovation, and enhance customer experiences to further strengthen the company’s position in the industry. Rikant Pittie was earlier the Chief Financial Officer (CFO) of the company.
Notably, Rikant Pittie’s appointment soon after co-founder and brother Nishant Pitti’s partial stake sale and resignation.
Pitti, on Tuesday, divested a 1.4-per cent stake in the company for Rs 78 crore through an open market transaction.
According to the bulk deal data available on the National Stock Exchange (NSE), Nishant Pitti sold 49.9 million shares or 1.41 per cent stake at an average price of Rs 15.68 apiece, taking the transaction value to Rs 78.32 crore.
After the transaction, Pitti's holding in Easy Trip Planners came down to 12.8 per cent from 14.21 per cent.
Later, on Wednesday, Nishant Pitti resigned from the Board as the CEO of the company, citing personal reasons.
Meanwhile, Rikant Pittie, promoter, held 91,72,80,352 shares, or 25.88 per cent stake, in the company as of December 2, 2024.
Nishant Pitti, the third brother and promoter, held 36,46,54,240 shares or 10.29 per cent stake in the company.
About Easy Trip Planners
EaseMyTrip is one of India's largest online travel platforms in terms of air ticket bookings. EaseMyTrip offers 'End to End' travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services.
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