EaseMy Trip Shares Tank 10% In Just One Session: What's The Reason?

Easemytrip stocks have declined to Rs., 15.70, down by Rs., 1.34 or 7.86 per cent. It opened at Rs., 15.82 and has been fluctuating across the 15 Rupee bandwidth.

Reason For Crash

The crash comes after media reports stated that EaseMyTrip's co-founder Nishant Pitti would sell his remaining stake in the company, 14 per cent, for Rs., 780 crore on December 31. Pitti was expected to sell 50 crore shares at ₹15.6 per unit.

In September 2924, Pitti divested a 14 per cent stake in the company, amounting to Rs., 920 crore via open market transactions.

The shares were offloaded in the price range of Rs., 37.22-38.28 apiece, taking the transaction value to Rs., 920.06 crore.

After the stake sale, Pitti's holding in Easy Trip Planners decreased from 28.13 per cent to 14.22 per cent. Post the sale, the combined shareholding of the promoters' has declined to 50.39 per cent from 64.30 per cent, as per media reports.

EMT Desk

“EaseMyTrip elevates corporate travel with the launch of EMT Desk – A comprehensive business travel platform” being issued to the media." The company had said earlier in a BSE filing.
It is , "an all-in-one platform tailored to transform corporate travel." the filing said.

EaseMy Trip IPO

EaseMy Trip opened its Book Built Issue IPO March 8, 2021, to March 10, 2021, with a price band of Rs. 186 to Rs. 187 per equity share.

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