MakeMyTrip raises $3.1 billion to slash Chinese firm Trip.com’s stake to 20%

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Online travel platform MakeMyTrip has raised $3.1 billion through a mix of equity and debt, its banker, Morgan Stanley, said on Friday.

On Tuesday, MakeMyTrip, in a regulatory filing, said that it is raising $3 billion to buy back shares from Trip.com Group, reducing the Chinese company’s holding to 20% from the initial 45%.

The fundraise is the largest ever by a listed Indian new-age company.

“Primary equity follow-on offering of 18,400,000 ordinary equity shares priced at $90 per share and five-year convertible senior notes offering, at zero…



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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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MakeMyTrip raises $3.1 billion to slash Chinese firm Trip.com’s stake to 20%


Online travel platform MakeMyTrip has raised $3.1 billion through a mix of equity and debt, its banker, Morgan Stanley, said on Friday.

On Tuesday, MakeMyTrip, in a regulatory filing, said that it is raising $3 billion to buy back shares from Trip.com Group, reducing the Chinese company’s holding to 20% from the initial 45%.

The fundraise is the largest ever by a listed Indian new-age company.

“Primary equity follow-on offering of 18,400,000 ordinary equity shares priced at $90 per share and five-year convertible senior notes offering, at zero…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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