MakeMyTrip remains a Buy with planned IPO and strong business diversity supporting growth

MakeMyTrip Limited is maintained as a Buy due to its upcoming IPO of its Indian subsidiary, which could unlock value and help fund convertible redemptions. The company’s diversified business model, particularly in hotels and buses, helps offset challenges in air ticketing and supports improving revenue trends. This strategic move aims to narrow valuation gaps with local competitors and strengthen its market position.

MakeMyTrip's stock is currently priced at USD 47.86 on Pluang, showing a 5.32% decline in the past day. As of Sep 15, 2026 21:01 WIB, the company’s market cap stands at $4.76 billion, reflecting investor sentiment amid its strategic moves.