Business · Companies · 7 hrs ago
MakeMyTrip’s India subsidiary gets approval to prepare for IPO
India’s market regulator has cleared the next step for an IPO of MakeMyTrip (India) Ltd, the Indian subsidiary of travel booking company MakeMyTrip.
The Gurugram-based company filed draft IPO papers confidentially in July, and the regulator issued its final observations on November 6.
The proposed IPO would involve the parent and its subsidiary selling shares in MakeMyTrip (India), rather than the company issuing new shares, according to its filing.
MakeMyTrip (India) would remain a subsidiary after the IPO, and its financial results would still be included in the parent company’s accounts.
The sale proceeds are expected to strengthen the parent’s cash position and support long-term growth, strategic investments and share repurchases.
The company can now prepare to proceed, subject to regulatory requirements; the sources do not give an IPO date or size.
MakeMyTrip (India) Ltd has received approval from India’s securities regulator to proceed with preparations for an initial public offering.
The company filed draft papers with the Securities and Exchange Board of India (Sebi) in July through the confidential route.
Sebi issued its final observations on November 6, allowing the company to proceed with IPO preparations subject to regulatory requirements.
The proposed offering would involve shares sold by MakeMyTrip and its wholly owned subsidiary, ibibo Group Holdings.
After the IPO, MMT India is expected to remain a MakeMyTrip subsidiary, with its financial results consolidated with the parent’s.
- Who
- MakeMyTrip (India) Ltd, a subsidiary of MakeMyTrip.
- What
- Sebi issued its final observations on the company’s draft IPO papers, allowing preparations to proceed subject to regulatory requirements.
- When
- Sebi issued its final observations on November 6; the approval was reported on November 9, 2026.
- Where
- India. The company is headquartered in Gurugram.
- Why
- The proposed IPO is expected to enhance brand visibility and support talent incentives; proceeds are expected to strengthen the parent’s cash position.
This story does not have two clearly opposing sides.
MakeMyTrip (India) Ltd filed draft IPO papers with Sebi through the confidential route.
Sebi issued its final observations on the draft documents.
The approval was reported, allowing the company to proceed with IPO preparations subject to regulatory requirements.
- Company
- MakeMyTrip (India) Ltd (MMT India)
- Regulator
- Securities and Exchange Board of India (Sebi)
- Draft filing
- July, through the confidential route
- Final observations
- November 6
- Proposed sellers
- MakeMyTrip and ibibo Group Holdings (Singapore) Pte Ltd
2 sources
What people are saying
MakeMyTrip expects the proposed initial public offering and listing of MMT India to enhance its brand visibility and support MMT India's ability to incentivise and promote talent in a competitive technology recruitment landscape