MakeMyTrip files $100 Million IPO, seeks NASDAQ listing
Tuesday, 27 July 2010, 21:31 IST
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MakeMyTrip files $100 Million IPO, seeks NASDAQ listing
New Delhi: MakeMyTrip, the parent firm of India's largest online travel company, MakeMyTrip India, has filed with U.S. regulators for an IPO and plans to raise $100 million from the offering. The company intends to list its common stock on NASDAQ under the symbol "MMYT". The number of shares to be offered and the price range for the offering have not yet been determined. Morgan Stanley is the sole book running manager to the offering and Oppenheimer & Co Inc and Pacific Crest Securities LLC will act as co-managers. MakeMyTrip is the parent company of MakeMyTrip India and MakeMyTrip.Com. Founded in April, 2000 by Deep Kalra (Founder & CEO), MakeMyTrip.com today has offices in 20 cities across India and 2 international offices in New York and San Francisco, in addition to several franchise locations. The company's services and products include booking air tickets, customised holiday packages, hotels, rail and bus tickets, car hire and facilitating access to travel insurance. In the latest fiscal year, ended March 31, MakeMyTrip's loss went down to $6.2 million from $7.3 million. Adding to it, the company's revenue increased to 22 percent to $83.6 million.
Source: PTI
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