MakeMyTrip.com Plans IPO After 2008
By Sahad PV - Thu 11 May 2006 08:05 PM PST
Business Standard: Besides Indiatimes and Naukri.com, here is another Indian internet portal that has announced its IPO plans.- “We may float IPO anytime after 2008. We are also open to the option of selling off the promoters’ stake once the company reaches a valuation of $100 million,” Deep Kalra, co-founder and CEO, Makemytrip.com, told Business Standard. The report further quotes Kalra as saying that the current valuation of makemytrip is about $40 million. Promoters own 50 per cent of the equity holding in makemytrip.com, and the rest is owned by Soft Bank, who have invested $10 million in the company so far. The company has a turnover of Rs 200 crore for the year ended March 31, 2006, compared with Rs 98 crore in the previous year.
Posted in: Venture Capital
