MakeMyTrip raises ₹34.68 cr from Mauritius-based parent company

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MakeMyTrip, a Gurugram-based, online travel agency has secured ₹34.68 crore from its parent company in Mauritius, reported yourstory.

The Nasdaq-listed company has issued 4,95,500 equity shares to its holding company at a price of Rs 690 per share.

“We have historically focused on providing travel solutions for retail customers, and with this investment, we are making a decisive foray into providing travel solutions for corporate customers as well,” Deep Kalra, Founder & Group CEO, MakeMyTrip Limited, said.

MakeMyTrip was founded by Kalra in the year 2000. It is an Indian online travel company, headquartered in Gurugram. The company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, and rail and bus tickets.

MakeMyTrip recorded gross bookings of over $1.4 billion in the first quarter of this year.

According to the company, it provides its customers with access to over 61,500 domestic accommodation properties in India, and more than 500,000 properties outside of India.

In September 2018, the Mauritius-based parent had also pumped in ₹69 crore into its Indian arm.

Apart from operating its own platform, MakeMyTrip also operates brands including Goibibo and redBus. Through these platforms, MMT (MakeMyTrip) allows users to book air, bus, train tickets, hotels and alternative accommodations bookings in India as well as overseas.

While, other significant players in the travel domain includes  YatraCleartrip, and TravelTriangle, among others.

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