<SEC-DOCUMENT>0000950123-11-054705.txt : 20110527
<SEC-HEADER>0000950123-11-054705.hdr.sgml : 20110527
<ACCEPTANCE-DATETIME>20110527080032
ACCESSION NUMBER:		0000950123-11-054705
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20110527
DATE AS OF CHANGE:		20110527

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MakeMyTrip Ltd
		CENTRAL INDEX KEY:			0001495153
		STANDARD INDUSTRIAL CLASSIFICATION:	TRANSPORTATION SERVICES [4700]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			O4
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-172572
		FILM NUMBER:		11876047

	BUSINESS ADDRESS:	
		STREET 1:		103 UDYOG VIHAR, PHASE 1
		CITY:			GURGAON, HARYANA
		STATE:			K7
		ZIP:			122016
		BUSINESS PHONE:		91 124 439 5000

	MAIL ADDRESS:	
		STREET 1:		103 UDYOG VIHAR, PHASE 1
		CITY:			GURGAON, HARYANA
		STATE:			K7
		ZIP:			122016

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MakeMyTrip Ltd
		CENTRAL INDEX KEY:			0001495153
		STANDARD INDUSTRIAL CLASSIFICATION:	TRANSPORTATION SERVICES [4700]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			O4
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		103 UDYOG VIHAR, PHASE 1
		CITY:			GURGAON, HARYANA
		STATE:			K7
		ZIP:			122016
		BUSINESS PHONE:		91 124 439 5000

	MAIL ADDRESS:	
		STREET 1:		103 UDYOG VIHAR, PHASE 1
		CITY:			GURGAON, HARYANA
		STATE:			K7
		ZIP:			122016
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>u00846fwfwp.htm
<DESCRIPTION>MAKEMYTRIP LIMITED - FREE WRITING PROSPECTUS
<TEXT>
<HTML>
<HEAD>
<TITLE>MakeMyTrip Limited - Free Writing Prospectus</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Filed Pursuant to Rule&nbsp;433<BR>
Registration Statement No.&nbsp;333-172572
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Issuer Free Writing Prospectus dated May </B><B>26</B>, <B>2011 to<BR>
Preliminary Prospectus dated May&nbsp;20, 2011</B>
</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>MakeMyTrip Limited<BR>
5,244,000 Ordinary Shares</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>This pricing term sheet relates only to the ordinary shares of MakeMyTrip Limited and should be
read together with the Preliminary Prospectus dated May&nbsp;20, 2011 relating to the offering of the
ordinary shares before making a decision in connection with an investment in the corresponding
securities. The information in this pricing term sheet supplements and supersedes the information
in the Preliminary Prospectus relating to the ordinary shares to the extent that it is inconsistent
therewith. Terms used but not defined herein have the meanings ascribed to them in the Preliminary
Prospectus.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All references to &#147;$&#148; herein are to United States dollars.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Issuer:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">MakeMyTrip Limited</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exchange/Symbol:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">NASDAQ/MMYT</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Size:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$125.9 million</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Shares offered:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5,244,000 Shares (1,450,000 Shares by the Company / 3,794,000 Shares by the Selling Shareholders)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Greenshoe:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">15% of Offering (786,600 Shares) (217,500 Shares by the Company / 569,100 Shares by
the Selling Shareholders)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Last sale price of ordinary
shares on May 26, 2011:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$24.44 per Share</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Price to public:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$24.00 per Share</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Underwriting discounts and
commission:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$0.78 per Share</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Net Proceeds to the Company:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Approx. $33.5 million (assuming no greenshoe)<BR>
Approx $38.5 million (assuming greenshoe is exercised in full)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ordinary shares to be outstanding after the offering:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">36,601,272 (assuming no greenshoe)<br>
36,826,517 (assuming greenshoe is exercised in full)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Capitalization:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The following table set forth the Company&#146;s indebtedness and capitalization as of
March&nbsp;31, 2011 on an as adjusted basis to reflect (1)&nbsp;the issuance of 51,633 ordinary
shares upon the exercise of share options held by certain of the Company&#146;s selling
shareholders for sale in this offering, effective upon the completion of this
offering; and (2)&nbsp;the issuance and sale by the Company of 1,450,000 ordinary shares
offered in</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">this offering at the public offering price of $24.00 per share, after
deducting the underwriting discounts and commissions and estimated offering expenses
payable by the Company, and further assuming no exercise by the underwriters of their
over-allotment option and no other change to the number of ordinary shares sold by the
Issuer as set forth on the cover page of the Preliminary Prospectus.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="60%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="41%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(<B>in thousands</B>)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left" valign="top">Loans and borrowings</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">209.6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left" valign="top">Bank overdraft</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="right">3,856.0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left" valign="top">Equity/(deficit):</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:30px; text-indent:-15px">Ordinary shares of par value $0.0005<BR>each,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">

<TD colspan="3" align="left" valign="top"><DIV style="margin-left:30px; text-indent:-0px">Issued: 35,099,639, actual;<BR>
36,601,272, as adjusted<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18.3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:30px; text-indent:-15px">Share premium</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145,955.8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:30px; text-indent:-15px">Accumulated deficit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(38,728.8</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:30px; text-indent:-15px">Share-based payment reserve</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,676.7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:30px; text-indent:-15px">Foreign currency translation reserve</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,174.1</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:45px; text-indent:-15px">Total equity/(deficit) attributable to<BR>
equity holders of our company</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">109,747.9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:45px; text-indent:-15px"><B>Total capitalization</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">113,813.4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


</TABLE>
</DIV>




<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dilution:
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><DIV style="margin-left:15px; text-indent:-15px">The following table illustrates the dilution per<BR>
ordinary share:</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="60%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="41%"></TD>
    <TD width="1%"></TD>
    <TD width="38%"></TD>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="13%"></TD>
    <TD width="3%"></TD>
</TR>






<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left" valign="top">Public offering price per ordinary share</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">24.00</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD colspan="3" align="left" valign="top"><DIV style="margin-left:15px; text-indent:-15px">Net tangible book value per ordinary share as of<BR>
March 31, 2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2.09</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:15px; text-indent:-15px">Proforma net tangible book value per ordinary<BR>
share after giving
effect to the issuance of<BR>
shares pursuant to the exercise of
options for<BR>
sale in this offering and this offering</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2.92</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:15px; text-indent:-15px">Amount of dilution in net tangible book value<BR>
per ordinary share to new investors in the<BR>offering</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">21.08</TD>

    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left" valign="top"><DIV style="margin-left:15px; text-indent:-15px">Percentage dilution in net tangible book value<BR>
per ordinary share to new investors in the <BR>offering</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">87.8</TD>
    <TD align="left">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>
</DIV>



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shares to be sold by each selling shareholder:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SAIF:&nbsp;2,616,825 shares</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Helion Venture:&nbsp;610,321 shares</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Deep Kalra:&nbsp;429,187 shares</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Keyur Joshi:&nbsp;86,034 shares</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rajesh Magow:&nbsp;51,633 shares</TD>
</TR>


<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;26, 2011</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expected Closing date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June&nbsp;2, 2011</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CUSIP:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">V5633W 109</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Underwriters:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Morgan Stanley &#038; Co. International plc</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Deutsche Bank Securities Inc.</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Oppenheimer &#038; Co. Inc.</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pacific Crest Securities LLC</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>


<DIV align="left" style="font-size: 10pt">Note (1): The actual ordinary shares stated in the table above excludes 1,510,187
ordinary shares issuable upon the exercise of outstanding options granted under the company&#146;s
equity option plan as of March&nbsp;31, 2011. See &#147;Management &#151; Share Incentive Plans &#151; Equity Option
Plan.&#148; The as adjusted ordinary shares as of March&nbsp;31, 2011 stated in the table above exclude
1,458,554 ordinary shares issuable upon the exercise of outstanding options granted under the
company&#146;s equity option plan (not taking into account those share options to be exercised by
certain of the company&#146;s selling shareholders for sale in this offering, effective upon the
completion of this offering).


</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>The following changes were made to the Preliminary Prospectus: </U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On page 128 of the Preliminary Prospectus, the following paragraph was added after the second
paragraph of page 128:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Certain affiliates of one of our shareholders, Tiger Global, have subscribed for, and were
allocated by the underwriters, 1,650,000 shares in this offering at the public offering price and
on the same terms as the other shares being offered in this offering. As a result, Tiger Global and
its affiliates will beneficially own 15.79% of our total outstanding shares immediately upon the
completion of this offering, assuming no exercise of the over-allotment option by the underwriters.
Any such shares purchased in this offering will not be subject to any lock-up restrictions by the
underwriters.&#148;
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">THE ISSUER HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE SEC FOR THE
OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS IN
THAT REGISTRATION STATEMENT, THE RELATED PROSPECTUS AND THE OTHER DOCUMENTS THAT THE ISSUER HAS
FILED WITH THE SEC FOR MORE COMPLETE INFORMATION ABOUT THE ISSUER AND THIS OFFERING. YOU MAY OBTAIN
THESE DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV. YOU MAY ALSO OBTAIN
DOCUMENTS RELATING TO THIS OFFERING BY CONTACTING MORGAN STANLEY &#038; CO. INCORPORATED, 180 VARICK
STREET, 2ND FLOOR, NEW YORK, NEW YORK 10014. ATTENTION: PROSPECTUS DEPARTMENT, OR BY E-MAILING
PROSPECTUS@MORGANSTANLEY.COM, OR DEUTSCHE BANK SECURITIES INC., ATTENTION: PROSPECTUS DEPARTMENT,
100 PLAZA ONE, JERSEY CITY, NEW JERSEY 07311, UNITED STATES OF AMERICA; PHONE: &#043;1-800-503-4611
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND
SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT
OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.
</DIV>


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</DIV>



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