MakeMyTrip India confidentially files draft papers for ₹9,600 cr IPO

MakeMyTrip has confidentially filed the draft red herring prospectus (DRHP) for its India arm's IPO, worth over $1 billion (more than ₹9,600 crore). The offering is also expected to be largely an offer for sale, allowing existing shareholders to dilute their stakes. Kotak Mahindra Capital, Axis Capital, JP Morgan and Morgan Stanley have been appointed as advisors for the offering.