Make My Trip Soars
The company raised nearly $70 million from the IPO
By September 12, 2010 at 1:38 PM
|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.