MakeMyTrip prepares for IPO, merges RedBus into its India unit
MakeMyTrip, India's leading online travel platform, is preparing for a possible IPO on Indian stock exchanges after merging RedBus India into MakeMyTrip (India) Private Limited (MakeMyTrip India).
This restructuring aims to bring all major businesses together, making it easier to tap into public markets in the future.
Corporate travel and outbound travel focus
The company's corporate travel arm is booming: gross bookings across Quest2Travel, MyBiz, and Happay topped $1 billion recently.
MakeMyTrip now works with 500 big enterprises (including 150 top BSE-listed firms) and 75,000 SMEs.
To boost outbound travel options, it acquired most of Flamingo Transworld and partnered with visa platform Atlys.
AI-first platform
MakeMyTrip calls itself an AI-first platform. Its Myra trip planner chats with users in several Indian languages and has over 55,000 conversations daily.
Listing locally could help raise funds and support growth plans but will depend on market trends and regulatory go-ahead.