“As part of its long-term growth objectives, the company is evaluating a potential listing of MakeMyTrip India in India, which could provide an additional avenue to access capital, including from domestic institutional and retail investors, as well as enable it to provide India-listed equity as potential consideration for growth initiatives,” the company, founded by Deep Kalra in 2000, said in the statement, providing an update on its strategic priorities.
“The company believes that an India listing can be a catalyst to further boost the MakeMyTrip brand in its core market, strengthen its leadership in India, and support longer-term growth,” it said, adding that the potential India listing remains subject to market conditions, regulatory approvals, and customary corporate considerations.
According to industry insiders, the company had listed in the US since the travel market in India was still nascent at that time and the company’s operations were less understood. The US market provided it the platform to unlock value and onboard like-minded investors. It brought on board the world’s largest travel firm, China’s Trip.com Group, as a major shareholder, besides Tiger Global and Naspers. It bought back some shares from Trip.com through a $3.1 billion fundraise in 2025, which was the largest fundraise by a listed Indian internet company and the largest capital raise by a new-age tech firm in Asia-Pacific since Paytm’s $2.5 billion initial public offering (IPO) in 2021.
For the quarter ended December 2025, the company reported revenues of $295 million. However, its market capitalisation (mcap) has taken a beating over the last year. In May 2025, its mcap was $12.6 billion while as of March 1, 2026, it had fallen to $5.37 billion, according to data from Tracxn.
Talking of its inorganic growth opportunities, MakeMyTrip added that it had completed a strategic minority investment in and entered into a partnership with Atlys, a visa processing platform. The move will allow the company’s travellers to benefit from a streamlined visa application process powered by Atlys, as well as create an opportunity for MakeMyTrip to cross-sell its travel offerings to Atlys's customer base of outbound travellers.
“We believe that this will help further expand our market share and consolidate our position in the outbound travel market by creating a differentiated, vertically integrated customer experience,” the company said in the statement.
Apart from the consolidation in the Indian market with its acquisition of Goibibo and redBus, MakeMyTrip also acquired a majority stake in Flamingo Transworld, a regional group holiday packages business. Flamingo has built a strong presence across Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh, with curated group tours known for regional focus, customised experiences, and service for domestic and international travellers.
The company added that it will continue to invest in artificial intelligence (AI) and integrate AI throughout the organisation to drive benefits for every function. “The company views its AI investments as a key competitive differentiator over the long term, enabling operating leverage while strengthening customer trust and platform relevance over time,” it said.
Mastercard collaborates with MMT AI assistant Myra to launch lifestyle concierge
Payment card services giant Mastercard on Monday announced the launch of Lifestyle Navigator, an AI-powered travel and lifestyle concierge designed in collaboration with MakeMyTrip (MMT). The move integrates MMT's GenAI trip-planning assistant Myra with Mastercard’s AI capabilities, aiming to provide tailored travel experiences and exclusive offers.
"The solution represents Mastercard’s first ever global deployment of this white-label platform, making India the first market worldwide and MakeMyTrip the first OTA (online travel agency) partner. The launch comes at a time when India’s travel ecosystem is expanding rapidly," the company stated in a release.
According to the Mastercard Economics Institute’s Economic Outlook 2026, India is projected to lead major Asia Pacific economies, supported by strong domestic demand and accelerating digitisation. Launching later this year, the navigator will provide travellers curated insights from food, culture, adventure, and retail specialists across key global destinations, while making recommendations based on traveller intent, including destination preferences, travel companions, and personal passions.
"Our AI-powered trip-planning assistant Myra has been developed to convert data-led insights into personalised experiences that are timely and relevant for each traveller," said Rajesh Magow, cofounder and group chief executive officer (CEO), MMT.
"By pairing Mastercard’s global network of offers and privileges with MakeMyTrip’s deep travel expertise, we’re harnessing AI and data intelligence in a way that is practical, trusted, and deeply contextual – helping consumers make better decisions," said Gautam Aggarwal, president - India and South Asia, Mastercard.
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