<p>Online travel company MakeMyTrip has received funds to the tune of $180 million from Ctrip.com through convertible bonds. </p>.<p><br />Ctrip.com is a travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. Upon completion of the transaction, Ctrip will invest $180 million in MakeMyTrip through convertible bonds.<br /><br /> In addition, MakeMyTrip has granted Ctrip permission to acquire MakeMyTrip shares in the open market, so that combined with shares convertible under the convertible bonds, <br />Ctrip may beneficially own up to 26.6 per cent of MakeMyTrip’s outstanding shares. Ctrip will acquire the right to appoint a director to the MakeMyTrip board of directors.</p>
<p>Online travel company MakeMyTrip has received funds to the tune of $180 million from Ctrip.com through convertible bonds. </p>.<p><br />Ctrip.com is a travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. Upon completion of the transaction, Ctrip will invest $180 million in MakeMyTrip through convertible bonds.<br /><br /> In addition, MakeMyTrip has granted Ctrip permission to acquire MakeMyTrip shares in the open market, so that combined with shares convertible under the convertible bonds, <br />Ctrip may beneficially own up to 26.6 per cent of MakeMyTrip’s outstanding shares. Ctrip will acquire the right to appoint a director to the MakeMyTrip board of directors.</p>
