MakeMyTrip Seeks Over $2 Billion in Shares, Convertible Sale

MakeMyTrip Ltd. is seeking to raise more than $2 billion in concurrent sales of shares and convertible bonds, as the US-listed Indian travel firm aims to buy back a stake held by Trip.com Group Ltd.

The Gurugram, India-based company is offering 14 million new shares, and is also seeking to raise $1.25 billion from the sale of zero-coupon convertible bonds, according to a statement Monday.

At MakeMyTrip’s closing price on Monday of $100.88 per share, the shares would be valued at $1.4 billion, according to Bloomberg calculations.

MakeMyTrip shares fell 7.8% to $93 each in after-market trading as of 7:12 ...