EaseMyTrip Chairman Nishant Pitti's Share Pledge Raises Concerns
Nishant Pitti, the chairman of EaseMyTrip, has raised eyebrows among investors after pledging a significant number of shares for personal use. In December 2024, Pitti sold 5 crore shares, further reducing his stake in the company.
Pitti's share sale comes after a series of transactions that began in March 2024. Initially, he reduced his stake from 28.13% to 12.8%. In May, he secured the release of 10 crore shares. Now, with the sale of 5 crore shares, he has raised Rs 78.3 crore. Pitti has assured investors that no further sales are planned, attributing his actions to personal reasons.
The latest pledge, which represents 2.54% of EaseMyTrip's total equity base and 20% of Pitti's current holdings, has sparked questions about governance and promoter confidence. Market observers often view such pledges, particularly for personal use, as a red flag. Pitti had previously pledged 8 crore shares, and with the latest pledge, he now has 17.01 crore shares pledged, equivalent to 4.8% of the company's equity.
Pitti's recent share sales and pledges have led to speculation about his future plans and the company's governance. Despite his assurances, investors are left wondering about the implications of these transactions on EaseMyTrip's long-term prospects.
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