MakeMyTrip Limited announced a proposed primary offering of 14,000,000 ordinary shares in an underwritten registered public offering. The company plans to use the entire net proceeds from this offering, along with a concurrent Notes Offering, to repurchase a portion of its Class B shares from Trip.com Group Limited. The underwriters of the equity offering have a 13-day option to purchase an additional 2,100,000 ordinary shares. In addition, MakeMyTrip has commenced a proposed offering of 0.00% convertible senior notes totaling $1.25 billion, with an option for initial purchasers to buy an additional $187.5 million in notes. The proceeds from these offerings are intended for the share repurchase agreement with Trip.com.
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