MakeMyTrip's India arm gets SEBI nod to float IPO
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓MakeMyTrip’s India arm got SEBI approval to launch an IPO, according to an update on Monday.
- ✓The company filed draft papers in July, and the regulator issued final observations on November 6.
- ✓MakeMyTrip said the move will enhance brand visibility and help the firm promote talent in a competitive landscape.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Nasdaq-listed travel booking platform MakeMyTrip's India subsidiary has received SEBI's approval to launch an initial public offering (IPO), according to an update available on the markets regulator's website on Monday.
MakeMyTrip (India) Ltd (MMT India) had filed draft papers with SEBI in July through the confidential route. After examining the draft documents, the regulator issued its final observations on November 6.
SEBI's observations mark an important step in the IPO process, allowing the company to proceed with preparations for its public issues, subject to applicable regulatory requirements.
The proposed IPO is expected to comprise a sale of equity shares in MMT India by its parent MakeMyTrip and its wholly-owned subsidiary, ibibo Group Holdings (Singapore) Pte Ltd, the Gurugram-headquartered company said in a regulatory filing with Nasdaq.
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