MakeMyTrip's India arm gets SEBI nod to float IPO

MakeMyTrip's Indian arm, MakeMyTrip (India) Ltd (MMT India), has received Sebi's approval to launch an initial public offering (IPO), according to a recent update on the markets regulator's website. The company had submitted draft papers to Sebi in July via the confidential route. Sebi's final observations, issued on November 6, marked a crucial step in the IPO process, allowing MMT India to proceed with preparations for its public offering, subject to regulatory requirements.

The proposed IPO would see the sale of equity shares by both MakeMyTrip and its wholly-owned subsidiary, ibibo Group Holdings (Singapore) Pte Ltd. Following the IPO's completion, MMT India would continue as a subsidiary of MakeMyTrip, with its financial results consolidated under the parent company. MakeMyTrip anticipates that the IPO and MMT India's listing would bolster its brand visibility and support talent recruitment in the competitive technology sector.

The net proceeds from the share sale are expected to bolster MakeMyTrip's cash position, which will be used for long-term growth, strategic acquisitions, and the repurchase of various classes of securities. In Q2 2026, MakeMyTrip reported a net profit of $1.8 million, marking a turnaround from a $5.7 million loss in the same period a year earlier.

Revenue for the quarter stood at $235.2 million, representing an 11.2% increase compared to the previous fiscal year's comparable period.