MakeMyTrip, an Indian company, buys back shares to reduce Trip.com’s ownership stake from China.

MakeMyTrip, India’s leading online travel company, has recently completed a share repurchase transaction to reduce the stake held by China-based Trip.com. This move marks an important development in the ongoing restructuring process aimed at rebalancing the ownership structure of MakeMyTrip and aligning it more closely with the interests of its Indian stakeholders.

The share repurchase was a strategic decision that will help MakeMyTrip reduce Trip.com’s shareholding in the company. By doing so, MakeMyTrip aims to increase the representation of Indian investors and shareholders in the company, which is seen as a positive step towards enhancing the company’s governance and ensuring that its operational and strategic decisions are more in line with the interests of its Indian stakeholders.

The share repurchase transaction was part of a broader effort by MakeMyTrip to realign its ownership structure and reduce the influence of Trip.com, a Chinese travel company that acquired a significant stake in MakeMyTrip back in 2016. The completion of this transaction represents a significant milestone in MakeMyTrip’s efforts to regain control of its destiny and strengthen its position in the Indian market.

The move to repurchase shares from Trip.com is part of a larger trend of Indian startups and companies seeking to reduce foreign ownership and control in the wake of increasing concerns about data security, national sovereignty, and geopolitical tensions. By repurchasing shares from Trip.com, MakeMyTrip is not only addressing these concerns but also positioning itself as a more independent and locally controlled entity that is better aligned with the interests of its Indian customers and stakeholders.

MakeMyTrip’s decision to repurchase shares is a clear signal that the company is committed to its Indian roots and values and will take proactive steps to safeguard its independence and autonomy. By reducing Trip.com’s stake, MakeMyTrip is asserting its position as a leading player in the Indian online travel industry and reinforcing its commitment to serving the needs of Indian consumers and travelers.

The completion of the share repurchase transaction underscores MakeMyTrip’s strong position in the Indian market and its determination to put Indian interests at the forefront of its strategic priorities. With a renewed focus on local ownership and control, MakeMyTrip is well-positioned to navigate the challenges and opportunities of the rapidly evolving online travel landscape in India and deliver value to its customers and stakeholders in the years to come.