Now Reading: MakeMyTrip AI completes bookings, confidentially files for India IPO
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MakeMyTrip AI completes bookings, confidentially files for India IPO
MakeMyTrip AI completes bookings, confidentially files for India IPO
MakeMyTrip launched Myra 2.0, an AI assistant that can complete an entire booking including agentic payments inside a chat, the company disclosed on its Q1 FY27 earnings call. The assistant handled over…
MakeMyTrip launched Myra 2.0, an AI assistant that can complete an entire booking including agentic payments inside a chat, the company disclosed on its Q1 FY27 earnings call. The assistant handled over 8 million conversations in the quarter, with more than 45% coming from Tier 2 and smaller cities. CEO Rajesh Magow said AI now generates over 75% of the company's code and its customer support bot independently resolves over half of calls.
The company also revealed that its wholly owned subsidiary MakeMyTrip India Limited has confidentially filed a draft red herring prospectus with SEBI on 17 July for an IPO. CFO Dipak Bohra said the company is weighing options for investors to move between the US-listed parent and the India entity, including an ADR, merger or structure inversion. MakeMyTrip ended the quarter with over $794 million in cash and said it will prioritise market share over profitability in the current environment.
Indian Opinion Analysis
The IPO filing signals MakeMyTrip's intent to tap domestic capital markets, potentially mirroring the path taken by other Indian internet firms that listed abroad before returning home. The fungibility question is critical: investors holding US-listed shares will want a clear route to the India entity without triggering tax or regulatory hurdles. With air ticketing weakening, the company's bet on AI to cut costs and lock in customers through an end-to-end booking experience could reshape how online travel agencies compete in India. Watch for SEBI's review timeline and the structure decision after the listing.
Source: medianama.com
This story was synthesised by AI from the source linked above.
