MakeMyTrip (India) Limited submitted a pre-filed draft red herring prospectus to SEBI, BSE, and NSE
The proposed initial public offering is expected to involve a sale of equity shares in MMT India by MakeMyTrip and ibibo Group Holdings
Net proceeds will strengthen MakeMyTrip's cash position for long-term growth, strategic inorganic initiatives, and security repurchases
MakeMyTrip Files Draft Papers for India IPO via Confidential Route
Upon completion of the proposed IPO, MMT India will continue to be a subsidiary of MakeMyTrip and will be included in its consolidated financial statements
MakeMyTrip Files for India IPO
Summary
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MakeMyTrip (India) Limited has confidentially filed a pre-filed draft red herring prospectus with SEBI, BSE and NSE for its proposed initial public offering on the main board.
The Nasdaq-listed parent company, MakeMyTrip Limited, announced the filing in a regulatory disclosure to the US SEC on July 17, 2026.
The regulatory disclosure provided details on the planned structure of the issue. "The proposed initial public offering is expected to involve a sale of equity shares in MMT India by MakeMyTrip and its wholly-owned subsidiary, ibibo Group Holdings (Singapore) Pte. Ltd." the regulatory disclosure stated, as per a report by Moneycontrol.
Upon completion of the proposed IPO, MMT India will continue to be a subsidiary of MakeMyTrip and will be included in its consolidated financial statements.
While the company did not disclose the issue size, the mega issue is likely to consist of an offer for sale. Axis Capital, JP Morgan, Morgan Stanley and Kotak Mahindra Bank are reportedly acting as advisors.
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Proceeds and Strategy
The parent firm detailed its operational rationale for taking the Indian business public.
"MakeMyTrip expects the proposed initial public offering and listing of MMT India to enhance its brand visibility and support MMT India’s ability to incentivize and promote talent in a competitive technology recruitment landscape," the company said.
Net proceeds received by MakeMyTrip and ibibo Holdings from the sale of shares in MMT India will further strengthen the cash position of MakeMyTrip.
The parent company expects to utilise these funds for long-term growth, strategic inorganic initiatives and repurchases of different classes of securities, including convertible securities.
"Subject to regulatory approvals, MakeMyTrip and MMT India may evaluate alternatives in medium-term to enable our respective shareholders to enjoy the benefits of a security at MMT India level that is fungible and listed across India and US capital markets," the filing said.
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