India, June 20 -- Days after announcing plans to raise capital via a mix of convertible notes and a primary offering of shares, MakeMyTrip (MMT) has raised $3.1 Bn to repurchase a portion of its Class B shares from China's Trip Group.
Kamal Yadav, managing director of investment banking at Morgan Stanley, took to LinkedIn to share the information. MMT sold 18.4 Mn new ordinary shares at $90 apiece in the primary equity follow-on offering amounting to a total of $1.66 Bn.
The other part of the round came via "5-year convertible senior notes offering, at 0% coupon and 35.0% conversion premium", Yadav said. Morgan Stanley was the lead-left bookrunner and stabilisation agent for the deal.
"On June 17, 2025, after the close, MakeMyTrip pric...
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