MakeMyTrip Evaluates India IPO As It Completes Restructuring Of Business

Online travel major MakeMyTrip on Monday said it is evaluating potential listing of its India business as it completes internal restructuring to consolidate its key brands operating in India.

This move could open the company to retail investros and doemstic instututional investors. It will also help the Nasdaq-listed company to strengthen its position in its largest market. The listing will also enable it to provide India‑listed equity as potential consideration for growth initiatives. 

The company on Monday said it has completed an internal restructuring to consolidate key brands operating in India into a single entity. It has consolidated RedBus India merged into MakeMyTrip (India) Pvt. This will help the company for its future India listing. However, it will be subject to regulatory approvals and market conditions.

"The Company believes that an India listing can be a catalyst to further boost the MakeMyTrip brand in its core market, strengthen its leadership in India and support longer-term growth," the company said in a statement.

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Furthe the company in the statement said it had completed the acquisition of majority stake in Flamingo Transworld, a regional group holiday packages business based in India. Flamingo has built a strong presence across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh, with curated group tours known for regional focus, customised experiences and service for domestic and international travellers.

In addition, MakeMyTrip has completed a strategic minority investment in and entered into a partnership with Atlys, a visa processing platform. This investment will allow MakeMyTrip travellers to benefit from a streamlined visa application process powered by Atlys, as well as create an opportunity for MakeMyTrip to cross-sell its travel offerings to Atlys's customer base of outbound travellers.

This is apart from its acquisition of Goibibo and redBus.

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