The promoter of Easy Trip Planners Ltd., Nishant Pitti, sold a 13.9% stake on Wednesday through an open market transaction.

The promoter of Easy Trip Planners Ltd., Nishant Pitti, sold a 13.9% stake on Wednesday through an open market transaction.

According to reports, Pitti offloaded 24.64 crore shares in three separate bulk transactions for a total of Rs 920.06 crore.

The first transaction involved 16.91 crore shares, representing a 9.54% stake, sold at ₹37.22 per share. In the second transaction, he sold 6.73 crore shares, or 3.8% equity, at Rs 37.42 per share.

The third deal saw him trade 1 crore shares, equivalent to a 0.56% stake, at Rs 38.28 per share.

Following this stake sale, the company's share price dropped by more than 15%, closing at Rs 34.70.

After the stake sale, Nishant Pitti's holding in Easy Trip Planners decreased from 28.13% to 14.22%. The combined shareholding of the promoters has also fallen from 64.30% to 50.39%.

Meanwhile, Core4 Marcom acquired 5 crore shares of Easy Trip Planners, and Craft Emerging Market Fund PCC — Elite Capital Fund purchased 1.05 crore shares, according to data from the National Stock Exchange (NSE).

Credit - Indian Startup News