MakeMyTrip Raises $3.1 Bn To Buy Back Stake From China’s Trip.com

MakeMyTrip raised $3.1 Bn to repurchase a portion of its Class B shares from China’s Trip Group

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

This is the largest capital infusion for any new-age tech company since Paytm’s $2.5 Bn IPO in 2021

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…