MakeMyTrip Says an India Listing Still on the Agenda
Skift Take
As Oyo, Yatra and ixigo look to go public in India by this year, MakeMyTrip would probably wait and watch to see how these online travel companies fare in the market before launching an Indian IPO.
A listing in India, where the market is now more receptive to e-commerce platforms, is still on the agenda for MakeMyTrip, even as the online travel agency said it is not looking at any fundraising immediately.
The company’s balance sheets boast of a good amount of cash and cash equivalents, including free cash, Rajesh Magow, group CEO of MakeMyTrip, said on an earnings call this week.
“Even if we were to set aside certain amounts for the convertible bonds that we had to raise two years ago, we're sitting on a healthy cash balance of close to $250 million,” Magow said.
The Indian online travel agency got listed in the U.S. on Nasdaq in 2010. Deep Kalra, founder and chairman of MakeMyTrip, had hinted before, in Septem
