EaseMyTrip cofounder and chairman Nishant Pitti pledged 34.51 crore shares of the online travel platform to Motilal Oswal Financial Services on August 24. The shares are valued at ₹211.9 crore, representing 8.66% of EaseMyTrip’s total share capital, according to an exchange filing reported by inc42.com.
The pledged shares were valued at ₹6.14 apiece and cover about 76.1% of Pitti’s total 45.37 crore shareholding in EaseMyTrip. Prior to this transaction, 10.36 crore of his shares were already encumbered. After the pledge, his total encumbered shares stand at 44.87 crore, which is 11.26% of the company’s total share capital. The filing indicates a restructuring of existing encumbrances rather than an increase in pledged shares.
The pledged shares account for 98.89% of Pitti’s individual holding, leaving him with 50 lakh unencumbered shares. These shares also represent 25.83% of the combined promoter group holding, which includes Nishant Pitti and his family members Rikant and Prashant Pittie. The overall pledged holding remains unchanged from April, when Pitti had pledged 44.87 crore shares, highlighting a restructuring rather than new pledging activity.
The pledge was created on August 24, with the filing clarifying the value and extent of shares involved. Nishant Pitti’s total pledged shares now represent a significant portion of EaseMyTrip’s promoter shareholding, underscoring the financial arrangements within the company’s leadership.