Shares of Easy Trip Planners dropped 9.9% in Tuesday’s trading on the BSE, reaching an intraday low of Rs 15.36 per share
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Shares of Easy Trip Planners dropped 9.9% in Tuesday’s trading on the BSE, reaching an intraday low of Rs 15.36 per share. The decline came amid heavy selling, with 17.15 million shares changing hands on BSE and 143.3 million shares on the NSE. Details regarding the buyers and sellers are not yet available.
In comparison, the BSE Sensex fell 0.65% to 77,739.79. The company’s market capitalization stood at Rs 5,553.58 crore. Its 52-week high was Rs 27 per share, while the 52-week low was Rs 14.23 per share.
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Reports indicate that the company’s promoter, Nishant Pitti, is looking to sell his entire 14.21% stake in the company through block deals, with a floor price set at Rs 15.6 per share.
In September, Nishant Pitti had already sold a 14% stake in Easy Trip Planners for Rs 920 crore through open market transactions. According to bulk deal data from the NSE, Pitti sold 246,549,833 shares, representing a 14% stake, at prices ranging from Rs 37.22 to Rs 38.28 per share, totaling Rs 920.06 crore.
Following this stake sale, Nishant Pitti’s holding in the company decreased to 14.22% from 28.13%. The promoters’ combined stake also fell to 50.39% from 64.30%. As of September, other promoters, Prashant Pitti and Rikant Pittie, hold 10.29% and 25.88% stakes, respectively.
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Easy Trip Planners is an Indian travel agency offering flight, hotel, and holiday package bookings, as well as travel management services for both leisure and business travelers.
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Over the past year, Easy Trip Planners’ shares have fallen by 15.7%, while the Sensex has risen by 8.2%.
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