MakeMyTrip Prices Share, Convertible Note Offerings

MT Newswires Live
06/18

MakeMyTrip (MMYT) said Wednesday it priced a public offering of 16 million shares at $90 each for about $1.41 billion in expected net proceeds.

The offering was upsized from a previously planned 14 million shares.

The company granted the underwriters a 13-day option to buy up to 2.4 million additional shares.

MakeMyTrip also priced a private offering of $1.25 billion of 0% convertible senior unsecured notes due July 1, 2030, for about $1.23 billion in estimated net proceeds. The company granted the initial purchasers a 13-day option to buy up to an additional $187.5 million of the notes.

The company said it plans to use the net proceeds from the offerings to repurchase a portion of its class B shares from Trip.com Group.

Both offerings are expected to close Monday.

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