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MakeMyTrip Limited Announces Pricing of Public Offering for 5.24 Million Ordinary Shares
GlobeNewswire 2011-05-27
NEW DEHLI, India and NEW YORK, May 27, 2011 (GLOBE NEWSWIRE) --
MakeMyTrip Limited (Nasdaq:MMYT) (the "Company"), India's largest
online travel company1 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
prospectus@morganstanley.com 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
prospectus.cpdg@db.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 company1. 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
http://www.globenewswire.com/newsroom/prs/?pkgid=8203
(1) Based on 2009 Gross Bookings (Source: PhoCus Wright)
MMYT-g
CONTACT: Jonathan Huang
MakeMyTrip Limited
+1 (646) 405-1311
jonathan.huang@makemytrip.com
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