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MakeMyTrip Announces Closing of Primary Offering of Ordinary Shares and Full Exercise of Option to Purchase Additional Ordinary Shares
NEW YORK & GURUGRAM, India--(BUSINESS WIRE)-- MakeMyTrip Ltd (NASDAQ: MMYT, the “Company” or “MakeMyTrip”), today announced the closing of its previously
About this update from Makemytrip Limited
[{"type":"text","content":" NEW YORK & GURUGRAM, India--(BUSINESS WIRE)--\nMakeMyTrip Ltd (NASDAQ: MMYT, the “Company” or “MakeMyTrip”), today announced the closing of its previously announced underwritten registered public offering of 16,000,000 ordinary shares of the Company, par value US$0.0005 per share (the “Primary Shares”), at an offering price of US$90 per share, and the exercise in full by the underwriters of their option to purchase 2,400,000 additional ordinary shares (collectively, the “Primary Equity Offering”).\n\n\nThe Company also announced today by a separate press release the closing of an offering of 0.00% convertible senior notes in an aggregate principal amount of US$1.25 billion due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and the exercise in full by the initial purchasers of their option to purchase an additional US$187.5 million in aggregate principal amount of the Notes (collectively, the “Notes Offering”).\n\n\nMakeMyTrip received net proceeds from the Primary Equity Offering of approximately US$1.62 billion, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company plans to use all of the net proceeds from the Primary Equity Offering and the Notes Offering to repurchase a portion of the Class B ordinary shares of the Company from Trip.com Group Limited.\n\n\nOther Matters\n\n\nNothing in this press release shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes or the Primary Shares, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Primary Equity Offering was made only by means of prospectus supplement and accompanying prospectus pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”).\n\n\nMorgan Stanley & Co. LLC and J.P. Morgan Securities LLC acted as joint book-running managers for the Primary Equity Offering.\n\n\nThe Company filed an automatic shelf registration statement on Form F-3 with the SEC. A preliminary prospectus supplement and the related base prospectus describing the terms of the Primary...