IPO · Commerce & Consumer Brands

MakeMyTrip targets India IPO in first quarter of 2027

By Startup Enthusiast · 29 April 2026

What they do

MakeMyTrip is an online travel agency that helps consumers book flights and hotels

The company plans to list on Indian stock exchanges in Q1 2027 with advisers appointed

Recent results show revenue growth but a sharp drop in net profit compared to last year

MakeMyTrip has set a target to launch an Initial Public Offering (selling shares to the public for the first time) in India during the first quarter of 2027.
The company has appointed Axis Capital, Morgan Stanley, and JP Morgan as advisers to manage this listing process.
This move follows its previous listing on the Nasdaq stock exchange in 2010.
The firm recently merged its RedBus India business into its main entity to streamline operations.
Investors are watching closely as the company prepares for this significant financial milestone.
The restructuring aims to consolidate its domestic travel services under one legal umbrella.
The IPO will allow the company to raise capital from Indian retail and institutional investors.
This represents a major shift in strategy after years of operating primarily as a US-listed entity.

Many successful Indian tech companies are returning to domestic markets for secondary listings or primary offerings.
Listing in India provides better access to local investors who understand the travel sector dynamics.
The merger of RedBus signals a focus on core profitability and operational efficiency ahead of the IPO.
A strong market capitalization supports investor confidence in the upcoming share sale.

MakeMyTrip operates an online travel agency that facilitates bookings for flights, hotels, and holiday packages.
The company serves over 8.7 crore retail consumers through its digital platforms annually.
It also caters to more than 77,000 small, medium, and large enterprise clients.
Revenue grew by 11% year-on-year to reach $295.7 million in Q3 FY26.
Sequential revenue growth was strong at 29% compared to the previous quarter.
Net profit declined significantly by 73% to $7.3 million from $27.1 million a year ago.
The company maintains a market capitalization valued at over $5 billion.
Its business model relies on transaction fees and commissions from travel service providers.
The integration of RedBus expands its bus ticketing capabilities within the Indian market.