MakeMyTrip raises $200 million in debt for ‘war chest’
SECTIONS
Share
Synopsis
MakeMyTrip, India’s biggest online travel company that currently has $227.6 million on its balance sheet, is looking to build a "war chest" and invest in new areas and initiatives, co-founder Rajesh Magow says.
Agencies
MakeMyTrip’s fundraising got a good response and the terms were good, co-founder Rajesh Magow says.
MakeMyTrip, India’s biggest online travel company, raised $200 million through an issue of debt securities, the company said on Friday.
The funds, which are in addition to $227.6 million on the company’s balance sheet, will be used to build a “war chest” and to invest in new areas and initiatives, MakeMyTrip cofounder and group CEO Rajesh Magow told ET in an interview.