EaseMyTrip's co-founder Nishant Pitti to sell remaining stake for ₹780cr
What's the story
Nishant Pitti, the co-founder of EaseMyTrip, is selling his remaining 14% stake in the company for ₹780 crore. The sale will be conducted tomorrow, sources familiar with the matter told ET. The transaction involves five crore shares at ₹15.6 each. Institutional investors including CRAFT Emerging Market Fund PCC - Citadel Capital Fund and Elite Capital Fund have shown interest in the block deal.
Investor participation
Additional investors likely to participate in the deal
The upcoming block deal is also likely to attract other institutional investors, such as Multitude Growth Funds Limited, Nexpact Limited, as well as Eminence Global Fund. This was revealed by sources close to the development, suggesting a wide range of potential buyers for Pitti's remaining stake in the travel company.
Past transaction
A look at Pitti's previous stake sale
Notably, this isn't the first time Pitti has divested his stakes in EaseMyTrip. On September 25, he had sold 24.65 crore shares or 14% of the total share capital at ₹37.11 to ₹38.28 per unit, totaling ₹920 crore.