MakeMyTrip India Set To Enter IPO Market As Parent And Ibibo Group Holdings Prepare To Sell Their Equity Stakes

MakeMyTrip (India) Limited (MMT India), the Indian subsidiary of Nasdaq-listed travel platform MakeMyTrip, has received final observations of the Securities and Exchange Board of India (SEBI) on its draft initial public offering (IPO) documents.

The company filed the papers via a confidential route in July 2026, and the regulator’s approval came on 6 November 2026. This will allow the company to go ahead with the public issue preparations, subject to applicable regulatory conditions.

The proposed MakeMyTrip India IPO is expected to comprise an offer for sale (OFS) of equity shares. MakeMyTrip and its wholly owned subsidiary, ibibo Group Holdings (Singapore) Pte. Ltd., are expected to sell shares in the offering.

The MakeMyTrip India IPO price band or proposed issue size has not yet been disclosed in the available report.

MakeMyTrip India IPO Proceeds

The proposed transaction will allow the parent company and ibibo Group Holdings to monetise part of their holdings in MMT India. The net proceeds received by these selling shareholders are expected to improve MakeMyTrip's cash position.

According to the company's regulatory filing, the funds are intended to support long-term growth, strategic inorganic initiatives and the repurchase of different classes of securities, including convertible securities.

MMT India To Remain A Subsidiary After Listing

The proposed listing will not result in MMT India becoming independent of its parent. It will continue to operate as a subsidiary of MakeMyTrip, with its financial results consolidated into the parent's accounts.

The company also expects the IPO and listing to improve MMT India's brand visibility. It said the move could help the Indian business attract, incentivise and retain talent amid competition for technology professionals.

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