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Easy Trip CEO Nishant Pitti resigns over personal reasons
Economic Times
·
7m ago
Medial
Nishant Pitti, promoter and co-founder of Easy Trip Planners, resigned as CEO citing personal reasons after selling a 1.4% stake for Rs 78 crore. His resignation will be effective from January 1, 2025, with Rikant Pittie assuming the CEO role. Following the announcement, the company's shares dropped to Rs 15.85. Pitti's stake decreased from 14.21% to 12.8%, and the overall promoter stake in the company fell below 50%.
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EaseMyTrip CEO Nishant Pitti sells shares worth ₹920 crore
Inshorts
·
10m ago
Medial
EaseMyTrip CEO Nishant Pitti sold a roughly 14% stake in Easy Trip Planners, the parent company of the travel aggregator, for around ₹920 crore on Wednesday. Pitti offloaded 24.65 crore shares of the startup through three different bulk transactions. Shares of the company dipped more than 15% to end at ₹34.7.
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Sold small portion of shares for personal reasons: EaseMyTrip Co-Founder Nishant Pitti after resignation
Economic Times
·
7m ago
Medial
Nishant Pitti, Co-Founder of EaseMyTrip, sold a small portion of his shares for personal reasons and resigned as CEO. He emphasized that this move doesn't indicate a lack of confidence in the company's future, asserting that EaseMyTrip is on a strong growth path. Rikant Pittie, his brother and Co-Founder, has assumed the CEO role. Nishant reassured stakeholders that no further share sales are planned, highlighting his commitment to the company’s success.
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Nishant Pitti frees up 10 Cr EaseMyTrip shares from bank pledge
YourStory
·
2m ago
Medial
Nishant Pitti, co-founder of EaseMyTrip, recently released a pledge on 10 crore shares, regaining full control over them. Previously, 18.01 crore of his shares were pledged to Motilal Oswal Financial Services. Post-release, only 8.01 crore shares remain pledged. Pitti, owning 45.37 crore shares (12.8%), ensured 2.82% of the company shares are now unencumbered. He reassures confidence in EaseMyTrip’s growth despite selling a small share portion for personal reasons.
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EaseMyTrip appoints co-founder Rikant Pittie as CEO
YourStory
·
7m ago
Medial
EaseMyTrip has appointed co-founder Rikant Pittie as CEO following the resignation of his brother, Nishant Pitti. Rikant, with over 15 years of industry experience, will focus on strategic initiatives and innovation. EaseMyTrip reported a decline in profits and revenue for Q2 FY25 compared to the previous year. The company plans to manufacture electric buses through its new subsidiary, Easy Green Mobility, with an investment of Rs 200 crore for development and plant setup.
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EaseMyTrip’s Nishant Pitti withdraws from GoAir bid
YourStory
·
1y ago
Medial
Nishant Pitti, founder and CEO of EaseMyTrip, has decided to withdraw his personal bid for GoAir. This decision allows him to focus on other strategic priorities aligned with EaseMyTrip's long-term growth objectives. Pitti and SpiceJet chairman Ajay Singh had jointly bid a sum of Rs. 500-600 crore for GoAir in March. However, the committee of creditors requested a reconsideration of the bid, which led to a revised joint bid of Rs. 1,650-1,700 crore. EaseMyTrip is an online travel platform offering a range of services such as hotel bookings, air tickets, and holiday packages.
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EaseMyTrip’s Nishant Pitti urges boycott of Chinese endorsements over Pakistan support
Economic Times
·
2m ago
Medial
EaseMyTrip founder Nishant Pitti urged boycotting Chinese products and endorsements, emphasizing national interest over convenience, amid China’s support for Pakistan during India’s Operation Sindoor. Pitti had earlier advised against travel to Turkey and Azerbaijan due to their sympathies towards Pakistan post-Pahalgam attack. Highlighting the impact of consumer choices, Pitti encouraged spending on nations respecting Indian values. His stance aligns with India's strategic moves against terrorism-supportive nations and their allies.
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EaseMyTrip's Nishant Pitti Pledges Shares Worth INR 95 Cr For ‘Personal Use’
Inc42
·
1m ago
Medial
Nishant Pitti, chairman of EaseMyTrip, has pledged shares worth INR 94.5 crore, equating to a 2.54% stake, to Motilal Oswal Financial Services for personal use. This move comes six months after he reduced his shareholding. The pledge was created on June 20 and represents about 13% of his total 45.4 crore shares in the company. Over the past year, Pitti's holding in EaseMyTrip has decreased from 28% to 13%.
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EaseMy Trip warns of national security risks from Chinese-owned travel apps
Economic Times
·
2m ago
Medial
Nishant Pitti, founder of EaseMyTrip, warned about national security risks from Chinese-owned travel apps, suggesting they may access Indian passport data. He emphasized the importance of using platforms aligned with India's interests. Rikant Pitti, EaseMyTrip's CEO, supported the stance, underscoring the company's history of prioritizing national sentiment, such as boycotting the Maldives and advising against traveling to countries supporting Pakistan. He urged collective responsibility in prioritizing India in travel decisions.
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EaseMyTrip CEO Nishant Pitti Under ED Scanner in Mahadev App Probe
StartupTalky
·
2m ago
Medial
EaseMyTrip CEO Nishant Pitti is under investigation by the Enforcement Directorate (ED) for alleged involvement in the Mahadev betting scam. The ED suspects Pitti's collaboration in manipulating stock prices of listed companies using proceeds from illegal betting activities linked to the Mahadev app. The agency retrieved INR 7 lakh from Pitti's residence, deemed as potential proceeds of crime. Despite refuting the allegations, digital evidence reportedly links Pitti to the betting operations.
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India's Shoppers Stop tumbles over 11% after CEO resigns
Reuters
·
1y ago
Medial
Shares of Shoppers Stop (SHOP.NS) dropped by 11.5% after CEO Venugopal Nair resigned for personal reasons. The stock fell 11.1% to 721.8 rupees. Kavindra Mishra, the Chief Commercial Officer, was promoted as the new CEO and executive director. Nair had joined in 2020 to lead post-pandemic transformation into an omnichannel retailer.
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