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MakeMyTrip to raise $62 million via follow on offer

NASDAQ-listed online travel company MakeMyTrip.com
will raise $62 million through a fresh public issue of shares where Deep Kalra,
founder and CEO of the company, Helion Venture and SAIF Partners, are
part-selling their stake worth around $109 million. The company has said that the
issue could comprise as many as 69 million shares (including over-allotment
portion) for a maximum price of $26.22 per share, which may total around $180
million.

NASDAQ-listed online travel company MakeMyTrip.com
will raise $62 million through a fresh public issue of shares where Deep Kalra,
founder and CEO of the company, Helion Venture and SAIF Partners, are
part-selling their stake worth around $109 million. The company has said that the
issue could comprise as many as 69 million shares (including over-allotment
portion) for a maximum price of $26.22 per share, which may total around $180
million.

MakeMyTrip will use the funds to expand
operations by acquiring or investing in strategic businesses or assets which
complement its service and product offerings. It will also invest in technology
enhancements, increase working capital and utilise the money for other general
corporate purposes. “At this time, we have not entered into any agreement or
commitment with respect to any material acquisition or investment,” the company
said.

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