Priced: International Development Association E2B 7Y SDB MS+31

Priced: International Development Association E2B 7Y SDB MS+31

MakeMyTrip Ltd (NASDAQ: MMYT), a leading online travel platform, has announced a proposed primary equity offering and convertible notes offering. The primary equity offering consists of 14,000,000 ordinary shares, with an option for underwriters to purchase up to 2,100,000 additional shares. The underwriting price will be determined at the time of pricing. The convertible notes offering, with an aggregate principal amount of $1.25 billion due in 2030, is being made in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended.

The proceeds from both offerings will be used to repurchase a portion of MakeMyTrip's Class B shares from Trip.com Group Limited. The repurchase will be based on the net offering price of the primary equity offering, after deducting estimated underwriting discounts and commissions. Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the primary equity offering.

MakeMyTrip's announcement follows a period of strong financial performance and growth. The company has filed an automatic shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission (SEC) and expects to grant an option to purchase additional notes in the Notes Offering. The closing of each offering is conditioned upon the closing of the other.

The primary equity offering and convertible notes offering are subject to market conditions and other factors. Investors should carefully review the prospectus supplement and accompanying base prospectus, which describe the terms of the offerings and provide more complete information about MakeMyTrip. The final prospectus supplement for the primary equity offering will be filed with the SEC when available.

References:
[1] https://www.businesswire.com/news/home/20250616485347/en/MakeMyTrip-Announces-Proposed-Primary-Offering-of-Ordinary-Shares
[2] https://www.marketscreener.com/news/morgan-stanley-rates-bsl-as-equal-weight-ce7c50d9d088f125