MakeMyTrip Considers India Stock Exchange Listing to Tap Local Investors
Online travel giant MakeMyTrip is actively evaluating a potential listing of its India operations on domestic stock exchanges. This strategic move aims to open doors for local institutional and retail investors, as the Nasdaq-listed company seeks to deepen its footprint in one of the world's fastest-growing travel markets.
Internal Restructuring Paves Way for Potential Listing
The company has completed a significant internal restructuring, merging key India brands under a single entity. This includes the integration of RedBus India into MakeMyTrip (India) Private Limited. The consolidated structure could serve as the vehicle for a domestic listing, though any such step will depend on regulatory approvals, market conditions, and other corporate considerations.
A potential India listing would provide MakeMyTrip with an additional avenue to raise capital, enabling the use of locally listed equity for future growth initiatives. This move is expected to strengthen the MakeMyTrip brand in its core market and support long-term expansion plans.
Strong Travel Demand in India Fuels Growth Ambitions
The development comes amid robust travel demand in India, driven by rising incomes, increasing digital adoption, and relatively low penetration of organized travel services. MakeMyTrip's platform has served over 87 million lifetime transacted retail customers and more than 77,000 SME and corporate clients. Its mobile applications have surpassed 549 million downloads.
In the nine months ending December 2025, the company sold 32.5 million hotel room nights under its hotels and packages business and over 104.6 million bus tickets, highlighting its dominant market position.
Strategic Investments and AI Expansion
Alongside the restructuring, MakeMyTrip announced strategic investments to bolster its travel ecosystem. The company has acquired a majority stake in Flamingo Transworld, a regional group holiday packages business operating in Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh.
Additionally, MakeMyTrip made a minority investment in visa processing platform Atlys, which recently raised $36 million in a Series C funding round led by Susquehanna Asia VC, with participation from Elevation Capital, Long Journey Ventures, and Peak XV Partners. This investment aims to streamline visa application services for MakeMyTrip users and create cross-selling opportunities with Atlys' outbound traveller base.
The company is also expanding its use of artificial intelligence across its platform. Its AI-powered trip planner, Myra, currently handles more than 55,000 conversations daily in multiple languages, assisting users with travel discovery, planning, and booking.
