MakeMyTrip To Raise Over $2 Bn To Reduce Chinese Ownership

Weeks after EaseMyTrip founder and chairman Nishant Pitti highlighted Chinese ownership in MakeMyTrip, the Nasdaq-listed company has now proposed to raise over $2 Bn to buy back stake from its Chinese investor Trip.com Group Limited. 

The company will raise the capital via senior notes and primary offering:

— It plans to raise $1.25 Bn via convertible senior notes due 2030 which will be offered to qualified institutional buyers (QIBs). The notes will be convertible into ordinary shares, at the option of the holders, at any time prior to the…