MakeMyTrip Takes Steps Toward India IPO

MakeMyTrip’s India listing is back in focus. On Tuesday, the online travel company reiterated that it is evaluating a potential listing of its India business “at the appropriate stage.”

“We completed our internal restructuring to combine all our key brands operating in India under a single entity with the merger of redBus India into MakeMyTrip India,” said Dipak Bohra, chief financial officer, on Tuesday’s earnings call. “These steps were undertaken to enable the company to evaluate a potential listing of the overall India business at the appropriate stage, which will strengthen our brand further in India and allow access to a differentiated and new pull of capital across institutional and material investors.”

MakeMytrip’s chief operating officer, Mohit Kabra, said there is no clear timeline yet as the company would need to complete several legal, tax, and regu