EaseMyTrip Co-founder Nishant Pitti Pledges Shares Worth ₹212 Cr
EaseMyTrip co-founder Nishant Pitti has pledged 34.51 crore shares of the online travel company, valued at approximately ₹212 crore, to Motilal Oswal Financial Services for personal use.
Nishant Pitti, co-founder and chairman of EaseMyTrip, has pledged 34.51 crore shares of the online travel aggregator, worth approximately ₹211.9 crore, to Motilal Oswal Financial Services for "personal use." The pledge was registered on August 24.
The transaction covers 8.66% of EaseMyTrip's total share capital. The filing indicates that the total value of pledged shares and the amount involved were both ₹211.9 crore. Notably, Pitti's overall pledged holding remains unchanged from April, suggesting a restructuring of existing encumbrances rather than a new increase.
Following this pledge, Pitti's total encumbered holding stands at 44.87 crore shares, representing 11.26% of EaseMyTrip's total share capital. This leaves him with 50 lakh unencumbered shares, a minor fraction of his total stake.
The disclosure comes as EaseMyTrip faces financial headwinds. The company reported a net loss of ₹11.7 crore in the first quarter of fiscal year 2027, a reversal from a profit in the prior year. The previous fiscal year also ended with a loss. EaseMyTrip's board has approved a plan to raise up to ₹500 crore through a rights issue to bolster its technology, platform, and expansion efforts.