Politics · India Bureau
MakeMyTrip India arm clears Sebi hurdle for domestic IPO launch
Nasdaq-listed travel platform MakeMyTrip's India subsidiary has secured Sebi approval to proceed with its initial public offering. The regulatory green light enables the company to advance preparations for launching a domestic listing.
LSN India ·
MakeMyTrip (India) Ltd has received final observations from the Securities and Exchange Board of India (Sebi), clearing a significant regulatory milestone in its path toward a public market debut. The approval, issued on November 6, enables the Gurugram-based company to move forward with its IPO preparations in accordance with applicable securities laws.
The India subsidiary had initiated the IPO process by filing draft papers with Sebi in July through the confidential filing route. Sebi's final observations follow the regulator's examination of the submitted documents and represent a critical step in the listing process.
The proposed IPO is structured as an offer for sale, with shares being divested by parent company MakeMyTrip Ltd and ibibo Group Holdings (Singapore) Pte Ltd, a wholly-owned subsidiary of MakeMyTrip. Following the completion of the share sale, MMT India is expected to remain a subsidiary of its parent entity.
The listing marks a significant development for India's online travel services sector and reflects MakeMyTrip's strategy to access domestic capital markets. The Nasdaq-listed parent company continues to explore growth opportunities through its various subsidiaries and business verticals across the region.