StartupCentral

Travel portal MakeMyTrip, which is headed for a Nasdaq listing shortly, has set the price band for its initial public offering (IPO) at $12-14 per share (Source: SEC Filing). It expects to raise $44.3 million, which will be used to expand operations by acquiring or investing in strategic businesses or assets as well as for working capital purposes. The Mauritius-registered startup reported losses at $6.2 million as on March 31, 2010, on revenues of $83.5 million.

The company is offering 5,000,000 shares of which 1,153,846 shares are being offered for sale by the company’s existing shareholders including venture capital investors SAIF Partners, Helion Venture Partners and Sierra Ventures. Deep Kalra, the company’s 41-year old founder-promoter is also selling some shares (see details of shareholding below). The company pegs the average price per share paid by these shareholders at $1.8. It has raised over $40 million from venture capitalists over multiple rounds of funding.

Image Courtesy: MakeMyTrip

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: Read the full story