MakeMyTrip weighs listing via IDRs
mumbai, April 20 -- Nasdaq-listed travel company MakeMyTrip (MMT) is weighing the benefits of listing its Indian arm via Indian Depository Receipts (IDRs) rather than a traditional initial public offering (IPO), two people familiar with the matter said on the condition of anonymity.
"An IDR structure is on the table, being viewed as a method to manage tax obligations that would be triggered by the Mauritius-based parent entity-MakeMyTrip Ltd-during a secondary sale of shares in a domestic IPO," said the first person.
The development follows the company's reaffirmation of its strategic priorities on 16 March, including plans for a potential listing of its India business after the consolidation of its brands, such as RedBus India, under MakeM...
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