MakeMyTrip eyes India listing after merging RedBus into domestic entity

Bengaluru: Online travel company MakeMyTrip is evaluating a potential listing of its India business on domestic stock exchanges, a move that could open up access to local institutional and retail investors as the Nasdaq-listed firm looks to deepen its presence in one of the world’s fastest-growing travel markets.

The company said it has completed an internal restructuring to combine its key India brands under a single entity, including the merger of RedBus India into MakeMyTrip (India) Private Limited. The consolidated structure could potentially serve as the vehicle for a domestic listing, though the company said any such move would depend on regulatory approvals, market conditions and other customary corporate considerations.

A potential India listing could provide the company with an additional avenue to raise capital while also enabling it to use locally listed equity for future growth initiatives. The company said such a move could help strengthen the MakeMyTrip brand in its core market and support its longer-term expansion plans.

The development comes at a time when travel demand in India continues to see strong momentum, supported by factors such as rising incomes, increasing digital adoption and relatively low penetration of organised travel services in the country.

MakeMyTrip said its platform has served over 87 million lifetime transacted retail customers, alongside more than 77,000 SME and corporate customers, while its mobile applications have crossed 549 million downloads. The company has also sold 32.5 million hotel room nights under its hotels and packages business and over 104.6 million bus tickets during the nine months ended December 2025.

Alongside the restructuring, the company announced strategic investments aimed at strengthening its travel ecosystem. MakeMyTrip said it has completed the acquisition of a majority stake in Flamingo Transworld, a regional group holiday packages business with operations across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh.

It has also 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. The investment is expected to enable streamlined visa application services for MakeMyTrip users while also creating cross-selling opportunities with Atlys’ outbound traveller base.

Separately, the company said it is expanding the use of artificial intelligence across its travel platform. Its AI-powered trip planner Myra currently handles more than 55,000 conversations a day across multiple languages, helping users with travel discovery, planning and booking.


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