EaseMyTrip Share Price:  Easy Trip Planners Ltd shares plunged to a record low, the stock plunged 20% to touch a lower circuit price of Rs 32.83 in trading hours on Wednesday. At around 1:38 pm, the shares were trading at the level of Rs 35.41, down over 13% or 5.5 rupees. The stock hit an intraday low at Rs 32.78 per share, which was 52-week low level as well. 

Following the sharp fall in the share price today, promoter Nishant Pitti is reportedly likely to sell 150 million shares, which is 8.50% of the company’s total share capital. The floor price of the block deal is reportedly Rs 38 and the block deal is worth Rs. 580 crore. As of June 2024, the latest available on the exchange website, Nishant Pitti held 28.13% of the equity in EasyMyTrip. The promoter and the promoter group collectively hold a substantial 64.3% stake in the company, while the remaining 35.7% is held by public shareholders.

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The impact of the offloading was immediately felt, with Easy Trip Planners shares taking a nosedive. The stock was trading at Rs. 37.90 on the National Stock Exchange (NSE) as of 10:30 am, down nearly 8%. The stock is down 9% over the past year and has lost 6.5% year over year. The stock has fallen 13% in the last six months, and 10.5% in the prior three months.

EasyMyTrip has made some progress in expanding its offerings amid stock price volatility. The company announced on Monday that it had entered into a strategic partnership with public sector giant Bank of Baroda to launch a co-branded travel debit card aimed at frequent travellers. 

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