The company, the shares of which rose to a record $40.90 on Tuesday on the Nasdaq, will have a war chest of more than $500 million with the completion of its latest round of fundraising, allowing it to take on the likes of Booking.com and newer domestic player Paytm among others. "The fundamental belief was to bolster our arsenal, and to have the war chest available," said Deep Kalra, chief executive of India’s largest travel operator, which is raising the money as it closes an equity financing round for a 9 per cent stake. "The use of the funds, or proceeds, will largely be inorganic." Kalra did not specify exactly how much the Gurgaon-headquartered company plans to set aside for potential acquisitions, but it’s expected to have over $500 million on its books after the latest funding round. Get the full story at The Economic Times