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Online travel platform MakeMyTrip’s India arm, MMT India, has received SEBI’s approval for an IPO.
The details: the IPO will consist entirely of existing shares sold by MakeMyTrip and its wholly owned subsidiary, ibibo Group Holdings (Singapore). This means the proceeds will go to the selling shareholders.
MMT India will remain a MakeMyTrip subsidiary after the listing, and its financial results will continue to be included in the parent company’s accounts.
Why list: MakeMyTrip expects the listing to boost its brand visibility and help its India arm attract and retain employees in a competitive technology job market.
The parent company plans to use the proceeds to strengthen its cash reserves, fund future growth and acquisitions, and buy back some of its existing securities.
Key financials: MakeMyTrip returned to profit in Q2 FY27, reporting a consolidated net profit of $1.8 million, compared with a $5.7 million loss a year earlier.
Revenue rose 2.5% to $235.2 million, from $229.3 million in Q2 FY26.
