MakeMyTrip Files for Nasdaq

Gurgaon-based travel service portal MakeMyTrip will list on the Nasdaq under the symbol MMYT. It has filed a registration statement with the SEC for a proposed initial public offering (IPO) of its ordinary shares. The number of shares to be offered and the price range has not yet been determined. Morgan Stanley will be the sole bookrunning manager and Oppenheimer & Co and Pacific Crest Securities will be co-managers. The company, reports Reuters, hopes to raise up to $100 million through the offering. Also see more details on the company in the preliminary prospectus.

(Source: Press Release)

MakeMyTrip, backed by SAIF Partners, Tiger Global, Helion Venture Partners and Sierra Ventures is the latest among venture capital-backed Indian startups that have announced plans to go public soon. Sequoia Capital-backed SKS Microfinance’s maiden offering opened on the bourses today — track updates here. Here’s a look at some details on two other notable startup IPOs coming up soon:

JustDial

• Business — Online, mobile and phone-based local search services. 25 million unique users in 240 cities.
• Founder — VSS Mani started the company in 1996 with Rs 50,000.
• IPO Details — VCCircle reports that it plans to raise Rs 200-250 crore via a stake dilution of 10% (which may increase to 25%). It is yet to file its draft red herring prospectus with Sebi.
• VC Investors — SAIF Partners, Tiger Global, Sequoia Capital. Raised $35 million till date (see table below).

• Investors	Amount	Stake*	Year
  Source: Media Reports *Approximate Stake
  SAIF Partners	$12 mn	20%	2006
  Tiger Global	$15 mn	20%	2007
  Sequoia Capital	$8 mn	10%	2009

One97 Communications

• Business — Mobile value-added services. Reported revenues at Rs 86.7 crore and net profits at Rs 12.4 crore for the nine months ended December 31, 2009. Read more on them at Businessworld here.
• Founder — Vijay Shekhar Sharma, 31, started the company in 2000.
• IPO Details — Plans to raise Rs 120 crore. See draft red herring prospectus filed with Sebi here.
• VC Investors — SAIF Partners, Silicon Valley Bank, Intel Capital. See details in table. Note: The stake mentioned is the pre-issue stake after the conversion of compulsorily convertible preference shares.

• Investors	*Amount	Stake	Year
  Source: DRHP *Approximate Amount
  SAIF Partners	$20 mn	38.52%	2007-2008
  Silicon Valley Bank	Not Available	3.49%	2007-2008 & 2009
  Intel Capital	$12 mn	9.7%	2009