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EaseMyTrip cofounder and chairman Nishant Pitti has pledged 34.51 Cr shares of the online travel aggregator, worth ₹211.9 Cr, to Motilal Oswal Financial Services for “personal use”. The pledge, created on August 24, covers 8.66% of EaseMyTrip’s total share capital, according to an exchange filing. The shares were valued at ₹6.14 apiece at the time of the transaction. The filing pegged both the value of the pledged shares and the amount involved at ₹211.9 Cr, implying a security cover ratio of 1:1. The 34.51 Cr shares covered by the latest pledge represent about 76.1% of Pitti’s 45.37 Cr share holding in EaseMyTrip. Before the transaction, 10.36 Cr of Pitti’s shares were already encumbered. Following the creation of the pledge, his total encumbered holding stood at 44.87 Cr shares, representing 11.26% of EaseMyTrip’s total share capital. The pledged shares represent 98.89% of Pitti’s individual holding, leaving him with 50 Lakh unencumbered shares. The pledged shares account for 25.83% of the combined shareholding of EaseMyTrip’s promoter group, which includes Nishant Pitti, Rikant Pittie, and Prashant Pitti. Total Pledge Unchanged However, Pitti’s overall pledged holding remains unchanged from April, when he had pledged a total of 44.87 Cr EaseMyTrip shares. While the latest filing classifies the transaction as the creation of a pledge, the unchanged post-transaction holding suggests that existing encumbrances were restructured. The filing did not elaborate on the reason for the change. Pitti had pledged 6.86 Cr shares worth about ₹55 Cr to Motilal Oswal Financial Services in March this year. This followed a string of pledge creations and releases over the preceding year. In June 2025, Pitti pledged 9 Cr shares worth ₹94.5 Cr to Motilal Oswal Financial Services, also for personal use. At the time, his total pledged holding stood at 17.01 Cr shares. Pitti’s pledges have come alongside a reduction in his stake in EaseMyTrip. He sold nearly 5 Cr shares worth ₹78.3 Cr in December 2024 after offloading 24.65 Cr shares for about ₹920 Cr in September that year. His stake in the company subsequently declined to 12.8% at the end of FY25 from 28.13% a year earlier. Pitti stepped down as EaseMyTrip’s CEO in January 2025 and was succeeded by his brother and cofounder Rikant Pittie. At the time, Nishant Pitti said the share sale was due to “personal reasons” and assured shareholders that he would not sell any more shares. Another cofounder, Prashant Pitti, resigned as the company’s MD in August 2025. EaseMyTrip Under Pressure The pledge disclosure comes at a time when EaseMyTrip’s earnings remain under pressure. The OTA slipped into the red in Q1 FY27, reporting a consolidated net loss of ₹11.7 Cr as against a net profit of ₹44 Lakh in Q1 FY26. This came despite operating revenue rising 18.4% YoY to ₹134.7 Cr. The weak quarter followed a challenging FY26. EaseMyTrip reported a ₹47.5 Cr loss in FY26 as against a profit of ₹108.6 Cr in FY25. Revenue from operations declined 8.8% YoY to ₹535.7 Cr. EaseMyTrip's board in May approved a proposal to raise up to ₹500 Cr through a rights issue. The company had earlier said the capital would be used to strengthen its technology and platform, expand into segments such as hotels and holidays, and pursue strategic acquisitions. Shares of EaseMyTrip were trading at ₹5.83 at 15:10, 0.5% higher from the opening price on BSE.
document fetched 2026-09-12 02:59 · canonical https://inc42.com/buzz/easemytrip-cofounder-nishant-pitti-pledges-shares-worth-%e2%82%b9212-cr-to-motilal-oswal