MakeMyTrip Financial News

train ticket will incur some charges as specified by the Indian Railway Catering and Tourism Corporation (IRCTC). However, if you use the services of some IRCTC-authorised ticketing agents such as MakeMyTrip and Ixigo and pay some extra amount, then you will get a full refund without any cancellation charges. To avail of this facility and use it for your benefit, you must know certain terms and conditions. Read here to find out.

Le Travenues Technology, which operates online travel portal Ixigo, has received clearance from the Securities and Exchange Board of India to raise funds through an initial public offering, according to a notification by the market regulator on Wednesday. The Gurugram-based company had filed its initial IPO papers in February, with a proposal comprising an issue of fresh shares worth Rs 120 crore and an offer for sale (OFS) of 66.67 million shares by its existing shareholders. The selling shareholders included Elevation Capital (earlier Saif Partners), Peak XV Partners, and founders Aloke Bajpai and Rajnish Kumar, as per the draft red herring prospectus (DRHP).

Deep Kalra, Den Network's Sameer Manchanda and Ashish Gurnani of Assago group have joined the list of the prominent names who own apartments at TheCamellias by DLF in Gurgaon. While Ashish Gurnani and family and Deep Kalra has bought two apartments of 7,430 sq ft, Sameer Manchanda has bought 10,813 sq ft apartment, according to documents accessed through CRE Matrix, a real estate data analytics firm. The Camellias, launched less than a decade ago at Rs 22,500 per square foot, are currently selling at Rs 60,000-95,000 per square foot, depending on the floor and the interior work done by the seller. Simply put, a 7,400 square feet apartment bought bare shell in 2014 for Rs 16 crore is now nearly three times as much at Rs 45 crore.

Zomato senior executive Mohit Gupta and Myntra founder Mukesh Bansal have raised $26 million in seed money for their omnichannel fashion startup Lyskraft, making it one of the largest early-stage rounds for an Indian startup amid the ongoing funding crunch. The round was led by Peak XV Partners, formerly Sequoia Capital India, Gupta told ET, adding that the seed money will help the partnership take forward the plan of building an omnichannel play as a marketplace for premium brands, starting with women’s fashion and subsequently expanding into other lifestyle categories.

Ayodhya grew 585 per cent in 2023 as compared to 2022. It was followed by a 359 per cent jump for Ujjain and 343 per cent rise in searches for Badrinath. It also highlighted that from Delhi, the top searched destinations were Rishikesh and Amritsar.

internet firms Zomato, Swiggy, Flipkart and Oyo have opposed the new regulations on digital competition proposed by a government-appointed committee to pre-emptively regulate abuse of antitrust laws. In a report submitted late Tuesday, the committee proposed a new digital competition law with an «ex-ante» framework to address potential abuse of dominance involving big tech companies. Prior to submitting the report, the Committee on Digital Competition Law had sought stakeholder comments.

₹1,453 crore for air tickets booked during the covid-19 pandemic from travel aggregators, including Yatra, MakeMyTrip, ClearTrip, EaseMyTrip, Ixigo and Thomas Cook, two persons aware of the matter said. Only ₹3 crore remains to be refunded after CCPA, a regulatory authority of the consumer affairs ministry, took up this issue of long delays in refunds to consumers by travel aggregators, the persons cited above said. The travel aggregators on their part have been blaming airlines, the first among the two persons cited above said.

₹2,000 crore. Competition in digital markets is regulated in India at present by the Competition Commission of India (CCI). The CCI has powers under the Competition Act, 2002 (Competition Act) to investigate and impose targeted remedies on digital platforms.

MakeMyTrip said on Thursday it has inked a memorandum of understanding (MoU) with the department of tourism, government of Goa, for a 'first of its kind' public-private partnership. The company said this 'collaborative effort' aims to further propel tourism in Goa and position it as a vibrant, 'year-round' destination, moving beyond its iconic sun, sand, and beaches. Goa is the first state in India to launch a regenerative tourism initiative. MakeMyTrip said the MoU, which outlines innovative initiatives aimed at showcasing Goa's lesser-known inland treasures, its rich cultural tapestry and delectable culinary traditions, is the next step ahead. Rohan Khaunte, minister of tourism, IT, E&C, and printing and stationery, Government of Goa said the collective vision of 'Goa Beyond Beaches' is to bring the hidden splendours of Goa to the forefront, celebrate its rich cultural heritage, take tourism to the hinterlands of Goa and ensure sustainable and regenerative tourism practices that preserve its natural resources for generations to come.

MakeMyTrip (MMT) on Thursday inked a Memorandum of Understanding (MoU), to further turn Goa in a year-round destination, moving beyond its iconic sun, sand, and beaches. The one of a kind public-private partnership aims to outline a series of innovative initiatives to showcase Goa's lesser-known inland treasures, its rich cultural tapestry and delectable culinary traditions, is the next step ahead. As part of this pact, MMT plans to broaden the reach and appeal of the coastal state by bringing to the table its expertise in digital innovation and marketing. The Tourism Minister of Goa emphasized the government's commitment to transforming Goa, the first state to launch Regenerative Tourism initiative. This particular initiative of the state government has Ekadasha Teertha campaign, where they are connecting eleven places of worship to form a travel circuit.

business class passengers, catering to the rising demand. After two sluggish years due to the pandemic, airlines have not only seen a rousing revival in corporate travel, boosting occupancy in the business class, but also a new class of leisure travellers willing to spend more for extra legroom and other perks. Deepak Rajawat, chief commercial officer of Vistara, said the debate over whether the pandemic would drive a shift towards work-from-home and reduce business-related travel has been put to rest. «There has been a phenomenal increase in the percentage that we carry in the front end,» he said, referring to business class flyers. Air India, under its new owner Tata group, is seeking to position itself as a world class airline and target more higher-paying customers.

MakeMyTrip said on Thursday it had completed the Savaari transaction by aquiring a controlling stake in the car rental service provider. MakeMyTrip had announced in its second quarter FY23-24 results that it has entered into an agreement to acquire a majority stake in Savaari Car Rentals Private Limited. Savaari will continue to operate as an independent entity led by the existing leadership team, the company said in a statement.

₹542 crore, or $66 million, in the third quarter ended December 2023. During the same period last year, the expenses incurred by the company to attract or retain customers, such as discounts, promotions, signing bonuses, or other incentives, stood at $60.7 million. Similarly, marketing and sales promotion expenses for the travel operator also shot up 25% in the third quarter of FY24 ended 31 December to $36.1 million from $28.9 million in the corresponding quarter ended a year prior.

NEW DELHI : With the Union Budget 2024-25 on the anvil, the Indian aviation industry hopes for a range of measures to reduce cost burden with respect to aviation turbine fuel (ATF), lower duty structure on import of private aircraft, categorization of airports under priority sector lending and more initiatives to improve regional connectivity in India. “The import duty has to be done away with. It comes to 3% when you import either by purchasing of aircraft or induct it on lease.

special invitations have been reportedly sent to 6,000-7,000 people, including several politicians and celebrities. As the fervour over the Ram Mandir ceremony remains high among the people of the country, here's how expensive the flight tickets to Ayodhya from 10 major cities are. Roughly, there was a difference of ₹1,000-3,000 in the fares of few trips available on MakeMyTrip and EaseMyTrip platforms.

India-Maldives row: Anand Mahindra, CEO pf Mahindra group, has highlighted the sudden surge of interest in Lakshadweep tourism amid the row between India and Maldives, calling it a “masterful move in a political Chess game". Anand Mahindra took to microblogging site X and shared that he had received an article by Bloomberg from his ‘Business partner in New York’. The Bloomberg article is titled-- Why Indians Are Threatening to Boycott the Maldives.

spiritual tourism segment in India grew by 35-40% year-on-year in 2023, according to estimates provided by travel majors, and it is expected to get a boost with the inauguration of the Ram temple in Ayodhya this month. Forward travel bookings and queries for Ayodhya are seeing a «strong» response, with flights for January 22 almost 80% booked, said an airline executive. Airline executives pointed out that for short-haul travel, they are expecting about 15% late bookings, primarily in the next five to seven days. «Some people are avoiding travel on the first day, expecting a rush and they plan to visit later,» the executive cited earlier said, adding that for the whole month, flights are almost 90% full. He pointed out that there could be some postponement of travel plans and some travellers would prefer travelling by train due to high airfares for January 22, the day of the temple inauguration. IndiGo and Air India Express had launched flights to Ayodhya immediately after the airport's opening on December 30. Both airlines now connect Ayodhya to Delhi, Mumbai, Bengaluru and Kolkata.

STAAH, has revealed the top channels across its network of over 19,000 properties. Gobibo and MakeMyTrip owner, GoMMT took the top spot for six years running.

soul searching and rebooting for Indians. A recent Booking.com survey that sought to uncover travel trends for 2024 found that travel is no longer considered an escape for young Indians but a catalyst for experiencing their best lives. 68 per cent of those surveyed (over 27,000 travellers across 33 countries) said they would be willing to rent a superior car for their travels, indicating a willingness to spend more to live their best lives.

Paytm, the fintech giant's CEO, Vijay Shekhar Sharma, has revealed a comprehensive plan for the year 2024, focusing on major Artificial Intelligence (AI) upgrades. The company, aiming to boost efficiency, reduce costs, and accelerate product development, is placing significant emphasis on AI integration. In a candid post on social media platform X, Sharma shared his insights on Paytm's evolving landscape, stating, «Making my to-do list for 2024. What would you like to change/upgrade in the Paytm app?» He highlighted the revamp of the Paytm app's Home Screen and the segregation of offerings from Paytm Payments Bank and other group entities, aiming for a «cleaner view.» This move is part of Paytm's broader strategy to enhance user experience through personalised AI-driven features. Sharma emphasised the importance of AI in customer care operations and disclosed ongoing efforts to tailor user experiences using AI tools from Microsoft and Google. The announcement triggered responses from the community, with product director Anurag Verma from Makemytrip sharing valuable suggestions.

Paytm, while sharing his to-do list ahead of the New Year, called out for suggestions from users for the fintech app. The Paytm app will have increased AI-based customer support. The CEO shared that they have changed the Paytm app’s Home Screen.