MakeMyTrip Upsizes Share Sale to $1.44 Bn at $90/Share—Aims to Cut Chinese Stake

MakeMyTrip Ltd. has increased the size of its primary equity offering to 16 million ordinary shares, pricing them at $90 per share, according to its latest filing. The move is part of a broader capital-raising plan that includes a $1.25 billion convertible bond issuance, bringing the total fundraising to over $2.6 billion. Proceeds will be used to repurchase a portion of Class B shares held by China’s Trip.com Group, reducing its stake from 45.34% to below 20%.

 

The offering reflects MakeMyTrip’s intent to diversify its shareholder base, enhance governance, and align with India’s push to reduce Chinese ownership in strategic tech platforms. The company posted record FY25 revenue of $978 million, up 25% YoY, and net profit of $95.2 million, driven by a post-Covid travel boom.

 

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Source: BusinessWire – MakeMyTrip Offering Announcement | Financial Express – Stake Reduction Strategy