EaseMyTrip A big block deal is going to happen tomorrow i.e. on 31st December in the shares of Rs. According to CNBC-TV18 sources, co-founder Nishant Pitti is going to sell his remaining 14.21 percent stake in the company. This block deal will be worth ₹780 crore. EasyMyTrip, operating under the umbrella of Easy Trip Planner, has been a leading player in the online travel booking space. Today on December 30, a rise of 3.33 percent was seen in the shares of the company and this stock closed at the price of Rs 17.05 on BSE. The market cap of the company is Rs 6042.66 crore.
Nishant Pitti will sell 50 crore shares
Pitti will reportedly sell 50 crore shares at a floor price of ₹15.6 per unit. According to Moneycontrol, institutional investors such as CRAFT Emerging Markets Fund PCC – Citadel Capital Fund, CRAFT Emerging Markets Fund PCC – Elite Capital Fund, Multitude Growth Funds Limited, Nexpact Limited and Eminence Global Fund are expected to participate in the transaction.
This step has been taken after another transaction on September 25, in which Pitti had sold 14% of the total share capital of the company, i.e. 24.65 crore shares. These shares were sold at prices ranging from ₹37.11 to ₹38.28 per unit, generating a total amount of ₹920 crore.
EaseMyTrip shares have seen a rise of more than 7 per cent in the last five days. However, it has fallen by 1.33 percent in the last one month. The company’s shares have fallen by 17 percent in the last 6 months. Apart from this, this stock has fallen 16 percent in the last one year.
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