The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on April 01, 2025 for Nishant Pitti
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Promoter Nishant Pitti has disclosed the creation of a pledge on 8,01,29,158 equity shares (about 2.26% of total share capital) of Easy Trip Planners Ltd, with the event dated March 26, 2025 and reported to exchanges on April 1, 2025. The pledge is in favor of Motilal Oswal Financial Services Limited, and the encumbered shares are valued at approximately ₹98.80 crore. After this pledge, Nishant Pitti's total encumbered shares rise to 18,01,29,158 shares (5.08% of total share capital), which represents 17.66% of his individual promoter holding. The document explicitly confirms that encumbered shares are neither 50% or more of his promoter holding nor 20% or more of total share capital. The stated end-use of the borrowed amount is personal use by the promoter, not for the benefit of the listed company.
The pledge is a material disclosure but stays well below regulatory concern thresholds (17.66% of the promoter's own holding). However, shares being pledged for personal borrowings rather than company needs may raise governance concerns among retail investors monitoring promoter actions.