MakeMyTrip India arm gets Sebi nod for IPO
By Abha Lohia · Editor ·
MakeMyTrip: revenue and funding and every story →
DRHP clearedGurugramFounded 2000
- MakeMyTrip runs a travel booking platform, listed on Nasdaq, and its Indian operating arm is based in Gurugram
- The markets regulator has issued final observations on the arm's confidential draft papers, clearing the way for a public listing
- The offer is planned as a sale of existing shares by the parent and its Singapore holding unit, so the arm stays a subsidiary
What happened
- The regulator finished reviewing the draft papers filed confidentially in July.
- Final observations were issued on 6 November.
- The IPO will be an offer for sale, with no fresh shares.
Why it matters
- Allows the company to start IPO preparations.
- The parent keeps control and will still consolidate results.
The business
- Online travel platform for flights, hotels and holidays.
- Parent is listed on Nasdaq.
The founders
What happens next
- Launch date and price band yet to be announced.
Terms in this story
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the public and lists on a stock exchange. In India SEBI supervises it and the shares trade on the NSE and BSE. A retail investor can bid up to ₹2 lakh, and the issue stays open for three working days.
- DRHP: DRHP stands for draft red herring prospectus: the document a company files with SEBI, through its bankers, before a main board IPO. It is the first public look at the business, its numbers and its risks. It has no price or dates yet, and SEBI's observation letter on it is valid for 12 months.
- SEBI: The Securities and Exchange Board of India (SEBI) is India's market regulator, set up in 1992. A startup meets it mainly through venture funds registered under the 2012 AIF rules, when it prepares an IPO, or when its product gives investment advice. A private startup raising from a few investors is first governed by the Companies Act.
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