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MakeMyTrip's Indian subsidiary will launch an IPO

MakeMyTrip (India) Limited (MMT India) submitted draft documents to SEBI through a confidential process in July. After examining these documents, the regulator approved the initial public offering (IPO) on November 6.Existing investors will sell their shares. The Gurugram-headquartered company said in a regulatory filing to Nasdaq that the proposed IPO is expected to comprise an offer for sale of equity shares of MMT India by its parent company MakeMyTrip and its wholly-owned subsidiary Ibibo Group Holdings (Singapore) Private Limited."MakeMyTrip expects that the proposed initial public offering and listing of MMT India will enhance its brand recognition and support its ability to attract and retain talent in the competitive technology recruitment market," the regulatory filing said.(Disclaimer: The premium of a company's shares in the grey market keeps changing continuously, hence before betting on any IPO, make sure to get complete information about the company's financial performance and its business or consult a financial advisor.)
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