Tag: stake sale

EaseMyTrip Co-Founder Nishant Pitti Exits CEO Role After Selling Stake, Stock Volatility Follows Leadership Shift

Nishant Pitti, co-founder of EaseMyTrip, has stepped down as CEO after selling a 1.41% stake for about ₹78 crore. Though he planned a bigger sale, he sold 5 crore shares before exiting, passing leadership to Rikant Pittie. The company's stock saw sharp fluctuations in response to these major moves.

Adani Wilmar Loses ₹4,258 Crore in Market Value as Shares Fall Amid Announced Stake Sale

On January 10, 2025, Adani Wilmar's shares dropped 10%, resulting in a ₹4,258 crore loss in market cap. This followed a 13.5% stake sale by Adani Group at a discounted price, sparking investor concerns. The move is part of a bigger plan to focus on Adani's core infrastructure projects, with remaining shares to be acquired by Wilmar International.

Adani Wilmar Shares Plunge 10% Amid Stake Sale and Legal Controversies

Adani Wilmar shares experienced a dramatic 10% decline, hitting record lows due to a 20% stake sale via an Offer for Sale (OFS) and legal challenges against Gautam Adani in the United States. The OFS, involving 17.54 crore shares offered at a discounted floor price, heightened negative sentiment. Meanwhile, the Adani Group witnessed substantial financial losses, with Wilmar International set to acquire remaining shares post-OFS.