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.
MakeMyTrip is exploring an India public listing, citing maturing local capital markets and strong reception for internet stocks. CEO Rajesh Magow warns prolonged West Asia conflict could dent travel sentiment. Company also acquired majority stake in Flamingo Transworld.
Why this matters
Listing review follows pressure on outbound travel, with airfares up 30-50% and bookings dipping due to weak rupee, war and fuel costs. Flamingo deal signals doubling down on outbound despite near-term headwinds.
Retail-company signals steady at 1,693 over 90 days, reflecting consistent corporate activity flow.