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Shares of Easy Trip Planners dropped 9.9% in Tuesday’s buying and selling on the BSE, reaching an intraday low of Rs 15.36 per share
Easy Trip Planners shares undergo sharp decline
Shares of Easy Trip Planners dropped 9.9% in Tuesday’s buying and selling on the BSE, reaching an intraday low of Rs 15.36 per share. The decline got here amid heavy promoting, with 17.15 million shares altering fingers on BSE and 143.3 million shares on the NSE. Details relating to the consumers and sellers aren’t but accessible.
In comparability, the BSE Sensex fell 0.65% to 77,739.79. The firm’s market capitalization stood at Rs 5,553.58 crore. Its 52-week excessive was Rs 27 per share, whereas the 52-week low was Rs 14.23 per share.
Reports point out that the corporate’s promoter, Nishant Pitti, is trying to promote his whole 14.21% stake within the firm via block offers, with a flooring worth set at Rs 15.6 per share.
In September, Nishant Pitti had already offered a 14% stake in Easy Trip Planners for Rs 920 crore via open market transactions. According to bulk deal information from the NSE, Pitti offered 246,549,833 shares, representing a 14% stake, at costs starting from Rs 37.22 to Rs 38.28 per share, totaling Rs 920.06 crore.
Following this stake sale, Nishant Pitti’s holding within the firm decreased to 14.22% from 28.13%. The promoters’ mixed stake additionally fell to 50.39% from 64.30%. As of September, different promoters, Prashant Pitti and Rikant Pittie, maintain 10.29% and 25.88% stakes, respectively.
Easy Trip Planners is an Indian journey company providing flight, resort, and vacation bundle bookings, in addition to journey administration providers for each leisure and enterprise vacationers.
Over the previous 12 months, Easy Trip Planners’ shares have fallen by 15.7%, whereas the Sensex has risen by 8.2%.
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