Sold small portion of shares for personal reasons: EaseMyTrip Co-founder after resignation
The Easy Trip Planners promoter and co-founder Nishant Pitti on Tuesday divested a 1.4% stake in the company for Rs 78 crore through an open market transaction.
Nishant Pitti, co-founder of online travel-tech aggregator , on Friday said he sold a "small portion" of the promoter shares held by him for "personal reasons", days after the company announced his resignation as CEO.
In a social media post, Nishant, who was replaced by his brother and Co-founder Rikant Pittie, after EaseMyTrip announced his appointment as the new CEO on January 1, reassured that the travel-tech platform is on a "strong growth path" and his move to sell a portion of the promoter shares does not reflect any lack of confidence in its future.
Nishant also assured that there will not be any further stake sale from his side.
"I recently sold a small portion of my promoter shares for personal reasons. I want to assure you this does not reflect any lack of confidence in EaseMyTrip's bright future. With a talented team and Rikant's visionary leadership, EaseMyTrip is on a strong growth path. To honor your trust, I have thoughtfully limited my share sale and confirm there will be no further sales from my side.
"Thank you for your unwavering support. Together, we will achieve even greater success. The best is yet to come!," Nishant said in a post on X.
The Easy Trip Planners promoter and co-founder Nishant Pitti on Tuesday divested a 1.4% stake in the company for Rs 78 crore through an open market transaction.
Easy Trip Planners Ltd is the parent firm of online travel company EaseMyTrip.
According to the bulk deal data available on the National Stock Exchange (NSE), Nishant Pitti offloaded 4.99 crore shares or 1.41% stake in Easy Trip Planners.
EaseMyTrip had on Wednesday said its Co-Founder and CEO Nishant Pitti has resigned on account of "personal reasons".
"In his new role, Rikant will lead the company's strategic initiatives, drive innovation, and enhance customer experiences to further strengthen EaseMyTrip's position in the industry," the company stated in a regulatory filing on January 1.
Edited by Megha Reddy