MakeMyTrip plans $2 billion fundraising via shares, convertible bonds
MakeMyTrip, the Indian travel booking giant listed in the US, just announced plans to raise $2 billion by selling 14 million new shares and $1.25 billion in convertible bonds.
The main goal? To buy back some shares from Trip.com Group and cut its voting power from 45.34% down to 19.99%.
Fundraising hinges on market conditions
The fundraising depends on market conditions, with Morgan Stanley and JPMorgan Chase leading the charge.
If all goes as planned, MakeMyTrip will use the money to strengthen its finances and give itself more control—basically making sure no single outside group has too much say.
MakeMyTrip's plans for the future
MakeMyTrip wants to keep growing as your go-to for booking flights, hotels, travel packages, and more—all while making its business stronger behind the scenes.
This move could mean a steadier company that's focused on serving travelers (like you) better in the long run.