MakeMyTrip (India) Ltd has received SEBI's approval for its IPO. SEBI issued its final observations on 6 November 2026, and the update appeared on the regulator's website on 9 November. The MakeMyTrip India IPO will be entirely an offer for sale (OFS), as per an Economic Times report.
What has SEBI approved?
MakeMyTrip (India), also called MMT India, is the Indian arm of the Nasdaq-listed travel booking company MakeMyTrip. It is based in Gurugram.
The company filed its draft papers in July through the confidential route. In this route, the draft is not made public while SEBI reviews it.
SEBI's final observations are the approval to proceed. The company still has to file its final offer document before it can open the issue.
| Detail | What is known |
|---|---|
| Company | MakeMyTrip (India) Ltd |
| Filing route | Confidential, in July 2026 |
| SEBI final observations | 6 November 2026 |
| Issue type | Entirely an OFS |
| Sellers | MakeMyTrip and ibibo Group Holdings (Singapore) |
| Issue size and price band | Not yet announced |
Who is selling, and where does the money go?
The shares will be sold by the parent, MakeMyTrip, and its wholly owned subsidiary, ibibo Group Holdings (Singapore) Pte Ltd. The company itself will not get any money from the issue.
The parent said in a filing with Nasdaq that the proceeds will strengthen its cash position. It plans to use the money for long-term growth, strategic inorganic initiatives and buying back some of its securities.
After the IPO, MMT India will remain a subsidiary of MakeMyTrip. Its results will still be consolidated with the parent's.
Why is the parent listing the Indian arm?
The parent says a listing will raise the brand's visibility in India. It also says it will help MMT India reward and attract talent in a competitive technology hiring market.
What happens next?
The company has not shared the issue size, the price band or the dates. These come with the red herring prospectus (RHP), the final offer document filed before the issue opens. SEBI's approval is generally valid for 12 months from the date of observations.
We list the pipeline of approved and filed issues on our upcoming mainboard IPO page. Another recent approval was the Encube Ethicals IPO, also entirely an OFS. The facts above are from an Economic Times report.
