MakeMyTrip considers IDRs to address Mauritius tax issues after redBus
MakeMyTrip, the big name behind your favorite travel bookings, is thinking about listing its Indian business on the stock market using something called Indian Depository Receipts (IDRs).
This move could help them sort out some tax issues linked to their Mauritius-based parent company, especially as they consider a possible IPO in India.
The idea comes following their 16 March 2026 update, when they brought brands like RedBus India under one roof.
IDRs enable MakeMyTrip Indian investor fundraising
By going with IDRs, MakeMyTrip can raise money from Indian investors without shifting its headquarters from overseas, potentially saving on taxes.
Not many companies have tried this route; Standard Chartered did it way back in 2010.
With a $5.7 billion market cap and tech IPOs heating up in India, MakeMyTrip is still weighing its options but could boost its visibility and growth if it goes ahead.