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MakeMyTrip Eyes Mumbai Listing by 2027
29 Apr
Summary
- MakeMyTrip is exploring a Mumbai stock market listing by early 2027.
- The company has hired Axis Capital, Morgan Stanley, and JPMorgan as advisors.
- This move aims to tap into Indian capital and support future growth.
Online travel platform MakeMyTrip Ltd. is evaluating a potential listing on the Mumbai stock exchange. This move is anticipated by the first quarter of 2027, with the company seeking to access domestic capital. Advisers including Axis Capital, Morgan Stanley, and JPMorgan have been appointed for the proposed share sale.
The Nasdaq-listed company sees this as an opportunity to gain additional capital from Indian institutional and retail investors. Furthermore, it could provide Indian-listed equity for future growth initiatives and acquisitions. MakeMyTrip operates popular travel brands such as MakeMyTrip, Goibibo, and redBus.
MakeMyTrip's shares have seen a substantial decrease of approximately 55% over the last year, resulting in a current market valuation of around $4.5 billion. This potential Indian listing follows a similar strategy by peer Yatra Online Ltd., which pursued a dual-listing approach.
India's initial public offering (IPO) market has experienced a slow start in 2026, following two years of record fundraising. Companies are preparing to launch IPOs once market conditions stabilize amid geopolitical tensions and slowing earnings growth.
