Continuing the downward trend, shares of online travel aggregator (OTA) EaseMyTrip hit a fresh all-time low of INR 8.76 during the intraday trading today. The stock recouped some of the losses to end the day at INR 8.82, still 3.29% lower from Friday’s (August 8) close.
The shares have been on a downward trajectory since the start of the year and have fallen close to 44% year to date.
After making a stellar public debut on the stock exchanges in 2021, the company has undertaken multiple bonus issues and stock splits. Its market capitalisation, which once stood at above $1 Bn, currently stands at $356.5 Mn.
Notably, the weak sentiment in EaseMyTrip over the past year or so has coincided with its cofounders offloading their stakes in the company. Cofounder and former CEO Nishant Pitti has been selling his shares in the company in droves. The aggressive sell-off spree has reduced his stake in the company to 12.48% at the end of June 2025, less than half of the 28.13% holding a year ago.
EaseMyTrip is promoted by the Pitti brothers – Nishant, Prashant and Rikant. The cofounders’ cumulative stake in the company has plunged to 47.72% at the end of June 2025 from 64.30% a year ago.
While Nishant’s shareholding has shrunk significantly over the past year, Prashant and Rikant’s stake in the company is unchanged at 10% and 25%, respectively. It is pertinent to mention that Nishant also stepped down as the CEO of the company earlier this year.
Meanwhile, the Enforcement Directorate conducted searches at EaseMyTrip premises in connection with the Mahadev betting app case earlier this year. However, the OTA denied any association with the Mahadev app or any other betting platform.
The other two cofounders, Prashant and Rikant, also hold positions in entities besides the listed company. While Prashant is a founder of MSME-focussed NBFC Optimo Capital, Rikant recently launched an AI venture studio to co-create businesses with other entrepreneurs.
On the financial front, EaseMyTrip’s net profit increased 5% YoY to INR 108.7 Cr in FY25 and operating revenue declined marginally to INR 587.3 Cr. The company, after informing the exchanges of a board meeting to consider a proposal of acquisition earlier this month, has postponed it twice. Now, its board will meet on Thursday (August 14) to consider the acquisition/s as well as Q1 FY26 numbers.
The post EaseMyTrip Rout Continues As Stock Sinks To Fresh All-Time Low appeared first on Inc42 Media.
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