2 months ago
MakeMyTrip Files for India IPO
MakeMyTrip, a big online travel company, is planning to list its Indian unit on the Indian stock market.
This is a big step because the company is already listed on the Nasdaq in the US.
The company filed some important papers with Indian regulators to start this process.
They haven't said how much money they want to raise yet.
The money from this listing will mostly go to existing shareholders who are selling their shares.
The company hopes this will make their brand more visible in India and help them attract and keep good employees.
They might also use the money to grow their business and explore new opportunities.
The listing could even allow investors to easily trade shares in both India and the US in the future.
MakeMyTrip (India) Limited has filed a confidential DRHP with SEBI for an IPO in India.
The IPO is expected to be an Offer for Sale (OFS) by existing shareholders.
The company has not disclosed the size of the proposed issue or the valuation.
The IPO is expected to improve brand visibility and strengthen the company's cash position.
The funds raised could be used for business expansion, strategic growth, and security repurchases.
- Who
- MakeMyTrip (India) Limited, a subsidiary of Nasdaq-listed MakeMyTrip Limited
- What
- Filed a confidential DRHP with SEBI for an IPO in India
- Where
- India (SEBI, BSE, NSE)
- When
- July 17, 2024
- Why
- To improve brand visibility, strengthen cash position, and explore strategic growth opportunities
Key facts
- Company
- MakeMyTrip (India) Limited
- Parent Company
- MakeMyTrip Limited (Nasdaq-listed)
- Filing Date
- July 17, 2024
- Regulatory Bodies
- SEBI, BSE, NSE
- Lead Managers
- Kotak Mahindra Capital, Axis Capital, JPMorgan India, Morgan Stanley India
- Expected Benefits
- Improved brand visibility, talent retention, strengthened cash position
- Potential Use of Funds
- Business expansion, strategic growth, security repurchases
Quotes
MakeMyTrip
Nasdaq-listed online travel platform
“"The proposed initial public offering is expected to involve a sale of equity shares in MMT India by MakeMyTrip and its wholly-owned subsidiary, ibibo Group Holdings (Singapore) Pte. Ltd. Upon completion of the proposed initial public offering, MMT India will continue to be a subsidiary of MakeMyTrip and will be included in MakeMyTrip's consolidated financial statements."”
livemint.com
Sources
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