MakeMyTrip plans $100 mn IPO in US; to get listed on NASDAQ

MakeMyTrip plans $100 mn IPO in US; to get listed on NASDAQ

New Delhi: MakeMyTrip Ltd, the parent firm of India’s largest online travel company, MakeMyTrip India Pvt Ltd, plans to raise up to $100 million (about Rs465 crore) through an initial public offering in the US.

The company has filed a registration statement with US market regulator Securities and Exchange Commission for a proposed initial public offering (IPO) of its ordinary shares, MakeMyTrip Ltd said in a statement.

The number of shares to be offered and the price range for the offering have not yet been determined. The ordinary shares are expected to be traded on the NASDAQ Global Market under the symbol ‘MMYT’, it added.

Morgan Stanley is the sole book running manager to the offering and Oppenheimer & Co Inc and Pacific Crest Securities LLC will act as co-managers.

MakeMyTrip Ltd is the parent company of MakeMyTrip India Pvt Ltd and Inc.

The company’s services and products include booking air tickets, customised holiday packages, hotels, rail and bus tickets, car hire and facilitating access to travel insurance.