Technology and Startups

Makemytrip.com plans IPO and listing on NASDAQ

MakeMyTrip Limited, the parent company of MakeMyTrip (India) Private Limited which operates MakeMyTrip.com (India’s largest online travel company), has filed a registration statement with the US SEC for a $100 million public offering of shares in the US Primary markets.

The company is yet to decide on the offer price and the number of shares that will issued through it’s IPO. The shares once issued are to be traded on the Nasdaq Global Market under the symbol `MMYT'”, a company press release stated.

Founded in 2000 amidst the dot.com boom , MakeMyTrip.com had revenues of Rs 240 crore in 2009 with net losses of Rs 45.6 crore. According to the SEC filing by MakeMyTrip.com, it had $83.56 million in revenues and $6.2 million in losses for the year 2010. The company operates out of  Gurgaon, Haryana.make my trip ipo

Use of IPO Proceeds – MakeMyTrip intends to use the net proceeds received from this offering to expand it’s operations by acquiring or investing in strategic businesses or assets that complement its service and product offerings. It also plans to invest in enhancements to technology, as well as for working capital and other general corporate purposes.

Shareholders of Makemytrip.com

SAIF Partners – 51.32%

Deep Kalra, Co-founder – 14.45%

Tiger Global Private Investment Partners – 12.14%

Helion Ventures – 11.97%

Sierra Ventures – 7.98%

Abhay N

Author : 

Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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1 Comment

1 Comment

  1. Powar

    May 24, 2012 at 12:21 pm

    Hello,

    Thanks for sharing this

    I really like make my trip to book air tickets they have made really very easy and fast also very very comfortable to book online because and also we get lots of other information from the website which we can’t get from other booking sites.

    Did you know you can also get discount while booking tickets and hotel booking at makemytrip, you have to just use coupon codes which you can find here http://www.couponlow.in/makemytrip.com/ and use these coupons and get discount on air tickets, hotels and holiday packages.

    Regards
    Powar

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