NEW DEHLI, India and NEW YORK, May 27, 2011 (GLOBE NEWSWIRE) -- MakeMyTrip Limited (Nasdaq:MMYT) (the "Company"), India's largest online travel company and the parent company of MakeMyTrip (India) Private Limited, MakeMyTrip.com Inc. and Luxury Tours & Travel Pte Ltd, announced today that it has priced its public offering of 5,244,000 ordinary shares at a price of USD 24 per share.
Of the total offering of 5,244,000 ordinary shares, 1,450,000 ordinary shares were offered by the company, while 3,794,000 ordinary shares were offered by certain selling shareholders. In connection with the offering, the company and the selling shareholders had granted to the underwriters an option to purchase up to an additional 786,600 ordinary shares to cover over-allotments.
MakeMyTrip Limited intends to use the net proceeds from the sale of the ordinary shares by the company to expand its operations by acquiring or investing in strategic businesses or assets that complement the company's service and product offerings and to invest in enhancements to its technology, as well as for working capital and other general corporate purposes.
Morgan Stanley and Deutsche Bank Securities Inc. acted as joint book running managers of the offering and Pacific Crest Securities LLC and Oppenheimer & Co. Inc. were co-managers.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Copies of the written prospectus for the offering may be obtained from Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department, by e-mail at firstname.lastname@example.org or by calling +1-866-718-1649; or from Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, by calling +1-800-503-4611 or by emailing email@example.com (calling these numbers is not toll-free outside the United States).
About MakeMyTrip Limited and MakeMyTrip.com:
MakeMyTrip Limited, the parent company of MakeMyTrip (India) Private Limited, MakeMyTrip.com Inc. and Luxury Tours & Travel Pte Ltd, is India's largest online travel company. The company's services and products include air tickets, customized holiday packages, hotels, rail tickets, bus tickets, car hire and facilitating access to travel insurance. Through its primary website, www.makemytrip.com, and other technology-enhanced platforms, the company provides access to all major domestic full-service and low-cost airlines operating in India, all major airlines operating to and from India, over 4,500 hotels in India and a wide selection of hotels outside India, Indian Railways and several major Indian bus operators.
The MakeMyTrip Limited logo is available at
(1) Based on 2009 Gross Bookings (Source: PhoCus Wright)
CONTACT: Jonathan Huang MakeMyTrip Limited +1 (646) 405-1311 firstname.lastname@example.org