Nishant Pitti steps down as Easy Trip Planners CEO; Rikant Pittie takes the helm

Easy Trip Planners, a tour and travel-related services provider, announced on Wednesday, January 1, that its board of directors had approved the resignation of Nishant Pitti as the Chief Executive Officer (CEO) of the company. Pitti resigned from the CEO's position, citing personal reasons.

Besides, the company said its board approved the appointment of Rikant Pittie as the new CEO of the company, effective January 1, 2025. Rikant Pittie was elevated to the position of the CEO from the position of Chief Financial Officer (CFO) of the company. He is the brother of Nishant Pitti and Prashant Pitti, the promoters of the company.

Ease Trip Planners is the parent company of the online travel bookings platform EaseMyTrip.

The company announced the resignation of Nishant Pitti after he sold a 1.4 per cent stake in the company for ₹78 crore through an open market transaction on Tuesday, December 31.

The NSE bulk deal data shows that Nishant Pitti offloaded 4,99,52,163 shares of Easy Trip Planners at an average price of ₹15.68 on Tuesday. The transaction value of the bulk deal was ₹78.32 crore.

Easy Trip Planners shareholding pattern

As per the shareholding pattern data available on BSE, Nishant Pitti held 50,37,21,910 shares, equivalent to 14.21 per cent stake in the company for the quarter ended December 2, 2024. Prashant Pitti held 36,46,54,240 shares, or 10.29 per cent stake, while Rikant Pittie held 91,72,80,352 shares or 25.88 per cent stake in the company.

Among the non-promoters, Life Insurance Corporation of India (LIC) held 7,68,79,824 shares, or 2.17 per cent stake in the company.

Easy Trip Planners stock declined over a per cent in morning trade on January 1 on the BSE. In the previous session, it had suffered a loss of 7 per cent after the bulk deal.

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