MakeMyTrip eyes India listing as Nasdaq market cap slides from $12.6B to $3.88B
Nasdaq-listed MakeMyTrip is exploring an India public listing, citing maturing local capital markets and strong appetite for internet stocks. FY26 revenue tracking $1 billion. CEO Rajesh Magow flags risk to travel sentiment if West Asia conflict drags on. Firm also took majority stake in Flamingo Transworld.
What happened
MakeMyTrip is exploring an India public listing, citing maturing local capital markets and strong reception for internet stocks. CEO Rajesh Magow warns
Key facts
- FY26 revenue $1 billion
- market cap $3.88 billion April 2026
- down from $12.6 billion May 2025
Why this matters
The Flamingo Transworld majority stake signals a roll-up posture in outbound travel, making MakeMyTrip both a consolidator to track and a possible partner for inbound distribution deals.