The fresh funds would be used for business expansion, says MakeMyTrip
The company will issue 4,583,334 ordinary shares in aggregate to investors at $36 per scrip
Says there also has been a remarkable increase in bookings coming from smartphones
The online travel portal moves beyond discounts as it looks to extend its brand into niche and value-added services
Early this week, MakeMyTrip gave investors another reason to cheer by announcing acquisition of main rival ibibo
In wake of MakeMyTrip-ibibo deal, customers could benefit from better offerings and firms in segment could expect some relief from hyper-competition
Their negotiating power and better economies of scale will allow them to indulge in aggressive pricing.
Buyer's shares soar 54% to $31.4 on Nasdaq
Ibibo operates brands such as goibibo and redBus
Interview with Founder & group CEO, MakeMyTrip
Delhi HC had ruled that arrest of an executive without notice was illegal
Integrates multiple modes of transport moving beyond buses, trains and flights
Interview with co-founder & CEO, MakeMyTrip
Mobile phones have become the preferred platform with 72 per cent of the international travel accommodation bookings
A new ad campaign marks a departure for MakeMyTrip in two ways - the online travel company is using a celebrity, and focusing on hotel booking at the best rates
With Ranveer Singh and Alia Bhatt as its brand endorsers, the go-to portal for cheap and easy travel is going in for a makeover
Sale titled The Great Indian Getaway is a way to push up bookings