EaseMyTrip's chairman, Nishant Pitti, has pledged 9 Cr shares worth INR 94.5 Cr to Motilal Oswal Financial Services for 'personal use'.
This represents 2.54% stake in the online travel aggregator and about 13% of Pitti's total shares in the company.
Pitti has been reducing his stake in EaseMyTrip, with his total stake decreasing from 28.13% to 12.8% in the last year.
He has assured investors that the sell-off does not reflect a lack of confidence in the company's future, focusing on a new venture investment initiative named EaseMyTirp 2.0.