MakeMyTrip confidentially files DRHP with SEBI for India listing
MakeMyTrip has confidentially filed its draft prospectus with SEBI, BSE and NSE to list its Indian business, with parent and ibibo Group selling equity. Issue size remains undisclosed; proceeds are earmarked for long-term growth, inorganic initiatives and buybacks. The group has traded on Nasdaq since 2010.
What happened
MakeMyTrip confidentially filed a DRHP with SEBI, BSE and NSE to list its Indian business, with parent and ibibo Group selling equity. Issue size undisclosed;
Key facts
- $3.1 bn prior fundraise
- listed on Nasdaq since 2010
Why this matters
With proceeds earmarked for inorganic initiatives and buybacks, MakeMyTrip is positioning fresh capital for M&A, making it both a potential acquirer and a benchmark for travel-tech deal activity in India.
What to watch
- Issue size and fresh-vs-OFS split disclosure
- SEBI approval timeline and public DRHP release
- Nasdaq ADR price reaction and India-US valuation gap
- Indian travel demand indicators (air/hotel booking volumes)
- Competitor IPO or fundraising responses (EaseMyTrip, Ixigo, Cleartrip)
- SEBI observation letter and conversion of confidential DRHP to public draft
- Anchor investor roadshows targeting domestic MFs and insurers
- M&A/inorganic announcements to justify growth-capital narrative
- Nasdaq ADR holders assessing arbitrage/structure implications of India entity carve-out