Easy Trip Planners Ltd share price in focus as promoter sells stake in block deal. As per the NSE data Promoters Nishnat Pitti has sold 237,549,833 shares in block deals at average prices of ₹37.22- 38.

A block deal worth Rs 176.5 crore was executed on the exchanges, involving around 4.6 crore shares, equivalent to a 2.6 per cent stake in EaseMyTrip, at a floor price of Rs 38 per share. The deal price represented a slight discount to the stock's previous closing price.

Promoter of Easy Trip Planners Ltd. sold a 13.9% stake on Wednesday through an open market transaction. Nishant Pitti offloaded 24.64 crore shares through three different bulk transactions for Rs 920.

Easy Trip Planners share price declined more than 8% on Wednesday morning on news of a block deal. News reports suggest Promoter is likely to sell 8.5% stake.

The indicative price for the sale is set at ₹41.5 per share, as per sources. As of the end of the first quarter, Pitti held a 28.13% stake in Easy Trip Planners. Shares of Easy Trip Planners Ltd ended at ₹41.

The company's Co-founder and CEO Nishant Pitti was the likely seller in the multiple block deals transacted on the counter

Easy Trip Planners shares have posted negative returns across various time frames. Over the past month, the stock fell 13.21%, while it declined 18.93% in the last six months. Year-to-date, shares dropped 12.

Nishant Pitti held 28.13% of the company’s equity stake as of June 2024, according to the data available on the exchange website. A total of 64.3% of the equity in the company is held by the promoter and the promoter group.

The stock fell 7.46 per cent to hit a low of Rs 37.96 on BSE. With this, the stock is down 13.60 per cent in the past six months. It has also erased its year-to-date gains.

Nishant Pitti is expected to sell 15 crore shares or 8.5 percent of the total share capital on September 25, according to sources. The floor price per share is expected to be Rs 38 for a total transaction value of nearly Rs 580 crore.