MakeMyTrip India Gets SEBI Nod for IPO, 16 Years After Parent’s Nasdaq Listing
MakeMyTrip India has received approval from the Securities and Exchange Board of India to launch its initial public offering, moving the travel company’s India business a step closer to a stock market debut at home.
SEBI issued its final observations on the draft papers on 6 November, and the approval surfaced on the regulator’s website on Monday 9 November. MakeMyTrip India had filed the papers in July 2026 through the confidential route.
The proposed IPO is expected to comprise an offer for sale of equity shares by the Nasdaq-listed parent MakeMyTrip and its wholly owned subsidiary ibibo Group Holdings (Singapore) Pte Ltd. The company has not disclosed the issue size, the price band or the listing dates yet.
MakeMyTrip India will continue to remain a subsidiary of MakeMyTrip after the listing, and its financial results will continue to be consolidated with the parent’s results.
What the listing would do for MakeMyTrip
In its regulatory filing with Nasdaq, the company said the listing is expected to boost the India arm’s brand visibility and strengthen its ability to recruit and reward talent in a competitive technology hiring market.
The share sale would also add to the parent company’s cash position, since the proceeds from an offer for sale go to the selling shareholders rather than the company itself.
A 26-year-old business comes home to list
Deep Kalra founded MakeMyTrip in 2000 with Keyur Joshi, Rajesh Magow and Sachin Bhatia, starting with tickets for Indians travelling between the United States and India. The company launched its India operations in September 2005.
It listed on Nasdaq in August 2010, raising 70 million dollars in its debut, and became one of the first Indian internet companies to go public in the United States. In 2016 it merged with ibibo Group, bringing Goibibo and redBus under the same roof.
Rajesh Magow, a co-founder, has led the group as chief executive since February 2020, while Deep Kalra serves as executive chairman. The company is headquartered in Gurugram.
A busy month for the travel group
The SEBI nod comes days after MakeMyTrip agreed to buy a majority stake in ride pooling startup Quick Ride, a deal that takes the travel company into shared mobility. We covered that deal here.
What to watch next
The issue size, the price band and the listing dates are still undisclosed, and those details will decide how Indian investors value the India business on its own. For now, the SEBI nod only clears the regulatory path.
If the listing goes ahead, Indian investors will get their first direct chance to own a piece of the India business, while the parent stays listed on Nasdaq.
