MakeMyTrip, Gurugram- based company successfully generated an additional Rs 34.68 crore from its Mauritius-based holding entity. The Nasdaq-listed business has issued 4,95,500 equity shares to its holding corporation at a value of Rs 690 per share.
Encouraged from the seed of a single prodigious idea – to permit the traveller – MakeMyTrip is a developer in India’s online travel industry. Originated in the year 2000 by Deep Kalra, MakeMyTrip came to life to authorize the Indian traveller with instant bookings and wide-ranging choices. The corporation originated its journey serving the US-India travel market offering a variety of best-value products and services powered by technology and round-the-clock client support.
The travel easy booking company had received Rs 100 crore from its parent company earlier this year in April. In the same month, it had also generated a majority stake in Mumbai-based Quest2Travel India Private Limited (Q2T), to strengthen its place in the corporate travel space.
Remarking on the investment statement in Q2T, Deep Kalra, Founder & Group CEO, MakeMyTrip Limited, mentioned in a press report:
“We are factually focused on providing travel solutions for retail clients, and with this investment, we are making a pivotal foray into providing travel answers for corporate clients as well.”
MakeMyTrip has successfully recorded gross bookings of over $1.4 billion in the first quarter of the year. Last month, the firm also joined with a Mumbai-based fintech company ePayLater to provide credit facilities for travel bookings. As fragment of the partnership, ePayLater’s ‘Book Now, Pay Later’ service will be made accessible to clients purchasing flight, bus, and train tickets on MakeMyTrip. This will consent clients to book travel without making an expense while availing the aids of interest-free credit for a period of 14 days from the date of the ticket buying.
Apart from functioning on its own platform, MakeMyTrip also works brands with including Goibibo and redBus. Through these platforms, MMT allows the audience to book air, bus, train tickets, hotels and alternate accommodations bookings in India as well as overseas.
According to the company reports, the company helps its clients to achieve access over 61,500 domestic accommodation properties in India, and nearly more than 500,000 properties outside of India. Last September, the Mauritius-based parent had also filled in Rs 69 crore into its Indian arm.
MakeMyTrip’s growth has been led by the dream and the spirit of each one of its staffs, for whom no idea was too big and no tricky too difficult. With tireless determination, MakeMyTrip has proactively expanded its product offering, adding a diversity of online and offline goods and services.
Sources : Yourstory