MakeMyTrip Ltd. is assessing the possibility of launching an initial public offering in India, a move that would complement its existing Nasdaq listing and broaden its capital-raising options, as per The Bloomberg report.
The company is targeting the first quarter of 2027 for a potential India IPO, although discussions are still underway and details such as issue size and valuation remain subject to change.
The plan is being evaluated as a way to access domestic pools of capital, including institutional and retail investors.
Additionally, a local listing could provide strategic flexibility by enabling the company to use India-listed equity for expansion and growth-related initiatives.
To progress the proposed IPO, MakeMyTrip has appointed Axis Capital Ltd., Morgan Stanley and JPMorgan Chase & Co. as advisers, with more banks expected to join the process.
The company, listed on Nasdaq since 2010, operates key travel platforms including MakeMyTrip, Goibibo and redBus.
Over the past year, its shares have declined by around 55%, resulting in a current market capitalisation of approximately $4.5 billion.
The potential IPO comes at a time when India’s primary market activity has moderated in early 2026 following strong fundraising in previous years.
Market sentiment has been influenced by geopolitical tensions, slower earnings growth and uneven foreign investment flows. However, companies continue to prepare listings, anticipating improved conditions.
A comparable approach can be seen with Yatra Online Ltd., which pursued a dual-listing strategy by first listing on Nasdaq in 2016 and later launching an IPO in India in 2023 at a valuation significantly higher than its overseas listing.
Read More: SBI Funds Management Files DRHP For IPO: India’s Largest AMC Prepares For Market Debut!
MakeMyTrip’s potential India IPO reflects a broader shift among companies seeking to combine global market presence with domestic investor access, as they navigate changing capital market dynamics.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Apr 30, 2026, 11:46 AM IST
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