समाचार Samāchār · Startups · 9 November 2026

MakeMyTrip’s India arm gets SEBI nod to list at home. The parent is the seller

SEBI has cleared the IPO of MakeMyTrip (India), the Gurugram-based unit of the Nasdaq-listed travel company. The issue is an offer for sale by its parent and ibibo, so no new money goes to the Indian company.

MakeMyTrip (India) Ltd can now go public in India. SEBI issued its final observations on the company’s IPO papers on 6 November. The approval became public on the regulator’s website on Monday. The Gurugram-based company is a wholly owned subsidiary of MakeMyTrip Limited, which has been listed on Nasdaq since 2011.

The company used the confidential pre-filing route and filed its draft papers in July. The issue is a sale of existing shares by MakeMyTrip Limited and ibibo Group Holdings (Singapore) Pte Ltd. No fresh shares are planned. The issue size has not been disclosed.

The money goes to the parent. According to the filing, the proceeds are expected to strengthen the parent’s cash position for long-term growth, strategic acquisitions and repurchases of securities, including convertible securities. MakeMyTrip (India) will remain a subsidiary and stay consolidated in the parent’s results. The filing says a local listing should lift brand visibility and help the Indian unit attract and keep technology talent.

The point is where the listing happens. MakeMyTrip went to Nasdaq fifteen years ago because that was where Indian internet companies found capital. Today the Indian market can price a large consumer platform with its own investors. Credit goes to the company for choosing to list at home, and to SEBI for a confidential route that lets companies prepare without a public clock running.

The next test is pricing. A sale by the owners works for public investors only if it leaves room for them to earn. That discipline keeps the home market deep for the companies that follow.

What a founder takes from it: An Indian-built consumer company that listed abroad is now listing its Indian business at home. That is a vote for the depth of Indian capital markets. Founders should read the structure too: an offer for sale prices ownership. It does not fund growth.