Online travel agent MakeMyTrip has filed a preliminary prospectus with NASDAQ for raising $100 million, reports Reuters. MakeMyTrip is the second SAIF Partners funded company in recent times to file for an IPO: One97 Communications filed for a listing in India recentl. MakeMyTrip is reported to be the largest online travel company in India, and has managed to get Morgan Stanley, Oppenheimer & Co and Pacific Crest Securities to underwrite the listing. MakeMyTrip made a net loss of $6.2 million in FY10, and an operating loss of $6 million. However, according to the company, if one excludes employee share-based compensation costs, it reported a marginal profit of $0.6 million (operating profit of $0.8 million) in the financial year 2009-10. Its total revenue (less service cost)* increased from $16.5 million in FY08 to $40.3 million in FY10. The company has managed to reduce its losses in the last fiscal - in 2009, it had reported an operating loss of $10.6 million, and a net loss of $7.3 million. As of March 31, 2010, MakeMyTrip had 757 employees. However, there's no indication of when the company will list, or how many shares will be on sale. When we'd asked MakeMyTrip CEO Deep Kalra of plans for filing an IPO with NASDAQ two months ago, he's told us that it's quite some time off...no telling what he meant by that, though. Notes from the Prospectus (view the Prospectus here) Air Ticketing Business MMYT reports higher revenue from air ticketing in the third and fourth quarter.…
