Sanjay Bambhaniya · Apr 28, 2026

MakeMyTrip IPO Review | APPLY or AVOID?

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IPO Timeline

DRHP FILED December 31, 2025

OPEN —

CLOSE —

ALLOTMENT —

LISTING —

IPO DETAILS REVIEW SUBSCRIPTION ALLOTMENT STATUS

MakeMyTrip IPO Review

MakeMyTrip started in 2000. It operates in the Online Travel Platform industry and provides Travel booking and related services to its customers across India and internationally. This business is based in Gurugram. This IPO review covers the main facts of the offer. It helps you decide if the issue fits your portfolio.

Financial Update

The company released its restated financial statements for the year ending March 31, 2025. Total revenue was ₹- crore increased/decreased from ₹- in previous year. The net profit for the same period was ₹ – crore increased/decreased from ₹- in previous year. Assets increased by –% compared to the previous year. MakeMyTrip has not yet filed its Red Herring Prospectus with the Indian financial details. The US-listed parent company reported strong results which suggest underlying business strength. Investors should focus on the India-specific numbers once they become public. This trend should be carefully studied prior to any investment.

IPO Valuation

The upper price band is ₹___. This price leads to a Price-to-Earnings (P/E) ratio of ____. The industry’s average P/E is [Number].

IPO Objective

The company will use the proceeds of the offer to meet stated objectives:

Fund expansion and technology investments.

Support growth through strategic acquisitions.

Provide India-listed equity for future growth initiatives.

Meet general corporate purposes.

Promoters & Lead Manager

The company is listed on Nasdaq and is evaluating the listing of its Indian business. The parent company’s management has extensive experience leading a dominant online travel platform for over two decades. Their strategic vision includes the consolidation of domestic operations like redBus India.

The Lead Manager for the IPO is TO BE DECLARED. They will manage the issue process, including pricing and investor outreach.

Peer Comparison

Financial data sourced from annual reports and stock exchange data, using restated financial statements for 2024-25. NAV per share (closing net worth divided by weighted average number of paid-up equity shares) and RoNW (net profit after tax divided by closing net worth).

Company	EPS (Basic)	EPS (Diluted)	NAV (₹ per share)	P/E (x)	RoNW (%)	Financial statements
MakeMyTrip (MMYT)	₹168.50*	₹164.20*	₹938.50*	~45.2x	17.90%	Consolidated
Easy Trip Planners (EaseMyTrip)	₹0.95	₹0.95	₹2.35	~52.4x	41.50%	Consolidated
Le Travenues Tech (Ixigo)	₹1.88	₹1.82	₹10.20	~85.6x	18.40%	Consolidated
Yatra Online	₹0.45	₹0.45	₹25.60	~145.8x	2.10%	Consolidated

IPO Review & Analyst Rating

Yet to Publish

Analyst Name	Recommendation
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Disclaimer: The information on the site is informational only. The contents of this blog are not financial advice. You should not invest in any stock market instrument without consulting your Financial advisor.

Sanjay Bambhaniya

Sanjay has 8+ years of experience in data-driven IPO insights. His expertise in digital marketing and web development complements his financial knowledge and helps him to develop effective fintech solutions. He is an entrepreneur and director who helps investors understand complex primary market trends in easy-to-understand IPO reports, news, and updates.

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