EaseMyTrip Cofounder Nishant Pitti Pledges Another 6.86 Cr Shares

EaseMyTrip cofounder and chairman Nishant Pitti has pledged another 6.86 Cr shares worth about ₹55 Cr to Motilal Oswal Financial Services. This represents 1.89% of the company’s total share capital.

In an exchange filing, the company said that the pledge was created on March 24 for “personal use” and represents about 15% of the 45.4 Cr shares held by Pitti. He had earlier pledged 9 Cr shares of EaseMyTrip worth ₹94.5 Cr to Motilal Oswal in July last year.

Prior to the latest pledge, 38 Cr shares, representing 10.45% stake in EaseMyTrip, were pledged by Pitti. Including the latest pledge, Pitti has pledged a total 44.87 shares of the company, representing 98.89% of his total holding and 12.34% of EaseMyTrip’s total share capital.

Notably, Pitti stepped down from the position of CEO of EaseMyTrip in January last year.

(The story will be updated soon)

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