EaseMyTrip cofounder Nishant Pitti pledges Rs 212 crore shares; nearly entire 11.39% stake encumbered
According to the disclosure, fellow cofounders Rikant Pitti and Prashant Pitti hold 23.02 percent and 9.15 percent stakes, respectively.
EaseMyTrip cofounder and promoter Nishant Pitti has pledged shares worth about Rs 212 crore in Easy Trip Planners for personal use, according to a regulatory filing.
The latest transaction, carried out on August 24, involved 34.51 crore shares, equivalent to 8.66 percent of the company’s total equity, pledged in favour of Motilal Oswal Financial Services Ltd.
The filing specifies that the borrowing is for the promoter’s personal use and is not being undertaken for the benefit of Easy Trip Planners.
Following the transaction, the total number of Pitti’s encumbered shares has risen to 44.87 crore, or 11.26 percent of the company’s share capital. The transaction value has been disclosed at Rs 211.92 crore, with a 1:1 security cover.
Pitti currently owns 45.37 crore shares in Easy Trip Planners, representing an 11.39 percent stake. This means almost his entire holding in the company is now pledged.
Before the latest transaction, 10.36 crore shares from his holding were already encumbered.
The pledge does not amount to a sale, and Pitti continues to remain the owner of the shares. However, the shares have been offered as security against the borrowing from Motilal Oswal Financial Services.
Pitti is among the three key promoters of Easy Trip Planners. According to the disclosure, fellow cofounders Rikant Pitti and Prashant Pitti hold 23.02 percent and 9.15 percent stakes, respectively.
A high level of pledged promoter holding can potentially create selling pressure if the lender invokes the pledged shares following a default or breach of financing terms. The latest disclosure, however, does not indicate any invocation or sale of shares.
Separately, EaseMyTrip has recently been pushing new product features as part of its broader “EaseMyTrip 2.0” strategy.
In August, the company launched ReSave, a flight-booking add-on that tracks fares after a customer has completed a booking and passes back eligible savings if ticket prices subsequently fall.
The feature works automatically and does not require travellers to separately monitor fares after purchase. EaseMyTrip has said eligible net savings identified through the process are returned to the customer at no additional cost.
Rikant Pittie, CEO and Co-Founder of EaseMyTrip, said the company sees the next phase of travel technology as extending beyond the booking transaction and creating value throughout the travel lifecycle.
The rollout forms part of a wider product push that also includes development of Agentic AI capabilities aimed at making travel discovery and servicing more proactive and personalised.
EaseMyTrip, founded in 2008 and listed in 2021, operates a zero-convenience-fee model and provides access to more than 400 airlines and around 2.9 million hotels globally.