Business
Make My Trip Soars
The company raised nearly $70 million from the IPO
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The Indian travel agency Make My Trip had the most successful IPO on NASDAQ in nearly three years when it shares jumped 89 percent on their market debut.
Although Makemytrip, India’s largest online company, has yet to make a profit, market analysts said the U.S. market was hungry for Indian companies, since the Indian economy is on a tear. The company raised nearly $70 million from the IPO. The shares priced at $14, jumped to $26.45 on the first day and peaked at $36.19 within a week of its launch. The shares are currently trading at $30. |
