MakeMyTrip sells its shares
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Online travel agency MakeMyTrip said in a statement that it and some of its shareholders plan to sell up to 6 million shares.According to Bloomberg, MakeMyTrip said it would offer 1.6 million shares and certain shareholders would sell another 4.4 million existing shares. MakeMyTrip said in a regulatory filing issued that the offering would increase its outstanding shares by more than 4%.The company’s stock tumbled 7.6% on Monday. Bloomberg said existing stockholders often dislike when companies sell more shares because it can dilute earnings per share.
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