MakeMy Trip in $113m follow-on share offering

India's largest online travel company will use proceeds for acquisitions and investments in strategic businesses. The deal prices on Thursday night.
The Taj Mahal
The Taj Mahal

Indian online travel company MakeMy Trip aims to raise up to $113 million this week by selling 4.5 million shares, according to a term sheet seen by FinanceAsia.

The New Delhi company wants to sell three million ordinary shares and several shareholders have proposed the sale of a further 1.5 million shares. Shareholders have 30 days to purchase an additional 675,000 shares, the company said in a statement.

The three-day bookbuild started Tuesday, with shares expected to price late Thursday at the close of US markets, bankers close to the deal told FinanceAsia. There is a 45-day lockup period.

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