Nishant Pitti, co-founder of the online travel technology aggregator EaseMyTrip, on Friday announced that he has sold a “small portion” of the promoter shares he held for “personal reasons”, shortly after the company revealed his resignation as CEO. In a message on social media, Nishant, who was succeeded by his brother and co-founder Rikant Pitti as CEO on January 1, reassured stakeholders that the travel-tech platform is currently on a “strong growth trajectory”. He clarified that his decision to sell a segment of his promoter shares does not indicate any loss of confidence in the company’s future prospects. Furthermore, Nishant confirmed that he does not intend to sell any additional shares.
“I have recently divested a small portion of my promoter shares for personal reasons. I want to emphasise that this does not indicate any lack of confidence in EaseMyTrip’s promising future. With our talented team and Rikant’s innovative leadership, EaseMyTrip is firmly on a growth path. To honour your trust, I have carefully limited my share sale and assure you that there will be no further sales from my side. Thank you for your steadfast support. Together, we will reach even greater heights. The best is still to come!,” Nishant stated in a post on X.
On Tuesday, Nishant Pitti sold a 1.4% stake in the company for Rs 78 crore via an open market transaction. Easy Trip Planners Ltd, the parent organisation of the online travel platform EaseMyTrip, reported that Nishant offloaded 4.99 crore shares or 1.41% stake in Easy Trip Planners, based on bulk deal data available from the National Stock Exchange (NSE).
Earlier, EaseMyTrip announced on Wednesday that co-founder and CEO Nishant Pitti had resigned for “personal reasons”. “In his new capacity, Rikant will spearhead the company’s strategic initiatives, foster innovation, and improve customer experiences to further reinforce EaseMyTrip’s standing in the industry,” the company articulated in a regulatory filing on January 1.