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Monday 02-Aug-2010

MakeMyTrip sets its IPO price in the range of USD 12 - 14 a share

The company plans to trade its share on Nasdaq under the symbol MMYT.

By  Traveltechie Bureau | Mumbai

Gurgaon-based online travel company MakeMyTrip.com has set the minimum and maximum bidding price of its IPO (initial public offering), consisting of five million ordinary shares, at $12 and $14 per share, respectively. The company plans to trade its share on Nasdaq under the symbol MMYT.

MakeMyTrip reported a loss of $6.2 million on revenues of $83.5 million for the fiscal year ending March 31, 2010. Shareholders include Softbank Asia Infrastructure Fund (51.32% pre-IPO stake), Tiger Global Private Investment Partners (12.14%), Helion Ventures (11.97%) and Sierra Ventures (7.98%).