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MakeMyTrip IPO: Blockbuster Debut

08/19/2010| 9:13:46 AM| 中文

MakeMyTrip, India's largest online travel company made a blockbuster debut on Nasdaq, gaining 66% post-listing Thursday. The stock touched a high of $27 in trade on Friday before closing down 5% at $25.12.

The company's market cap zoomed to $800 million within two days, which stood at $450 million at the time of the issue.

The company offered 5 million shares priced at $14 each, thereby raising $70 million. The company also exercised the green shoe option for another 15%, taking the entire issue to $80.5 million. The company plans to use the proceeds from the offering to expand its operations by acquiring strategic businesses, technology enhancement and meeting working capital requirements.

Read the full story at http://www.thestreet.com/story/10836662/1/makemytrip-ipo-blockbuster-debut.html?cm_ven=GOOGLEFI

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