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MakeMyTrip to acquire majority stake in Flamingo Transworld

EntrackrEntrackr · 14d ago
MakeMyTrip to acquire majority stake in Flamingo Transworld
Medial

MakeMyTrip to acquire majority stake in Flamingo Transworld MakeMyTrip has entered into an agreement to acquire a majority stake in regional tour operator Flamingo Transworld, for an undisclosed amount. Founded over three decades ago, Flamingo Transworld operates group tour services and has built a presence in regional markets including Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh. The company sells international and domestic group travel packages through a network of 51 offices across these regions. Flamingo’s offerings will complement its existing holiday packages business and help expand its presence in regional travel markets across India. Flamingo’s curated group tours include features such as regional-language tour managers and Indian meal options for travelers. The acquisition is part of MakeMyTrip’s strategy to strengthen its holiday packages segment and deepen distribution across offline and regional channels. The company operates travel platforms including Goibibo and redBus. In recent years, MakeMyTrip has expanded its travel ecosystem through acquisitions such as QuestToTravel in corporate travel bookings, Simplotel in hotel technology, BookMyForex in travel forex, Savaari in intercity mobility, and Happay in corporate spend management.

IntrCity SmartBus raises Rs 250 Cr in Series D led by A91 Partners

EntrackrEntrackr · 4m ago
IntrCity SmartBus raises Rs 250 Cr in Series D led by A91 Partners
Medial

IntrCity SmartBus raises Rs 250 Cr in Series D led by A91 Partners Intercity bus network IntrCity SmartBus has raised Rs 250 crore ($28 million) in a Series D funding round led by A91 Partners. IntrCity had earlier raised $4.5 million from Samsung Venture Investment and other investors in February last year. As per the startup data intelligent platform TheKredible, IntrCity has raised nearly $80 million to date and was valued at around $110 million in the last funding round. The Noida-based company will use the funds to enhance customer travel experience, upgrade its fleet management technology platform, and expand coverage across tier-II and tier-III cities. Co-founded in 2019 by Kapil Raizada and Manish Rathi, IntrCity SmartBus operates as the bus arm of RailYatri, offering standardized intercity bus travel through an asset-light model. Its “SmartBuses” are equipped with IoT devices for real-time tracking and data monitoring. “The brand continues to scale up organically and profitably and is projected to maintain its 50% year-on-year growth this year. We are excited to onboard A91 Partners in the next phase of our journey,” said Raizada. “This new capital enables us to further double down on our vision to transform the bus-travel landscape in India.” IntrCity SmartBus claims to operate on more than 630 routes across 15 states. Its sister platform, RailYatri, serves over 12 million monthly users offering train ticket booking and travel insights. The company aims to double its fleet and touch Rs 1,000 crore in turnover by next year. While the company has yet to file its annual financial statements for FY25, it reported a 15.9% jump in its revenue from operations to Rs 317.34 crore during FY24 as compared to Rs 273.9 crore in FY23. It competes with Abhibus, Zingbus, Leafybus and ixigo’s Freshbus.

MakeMyTrip eyes India listing to tap domestic capital markets

EntrackrEntrackr · 3d ago
MakeMyTrip eyes India listing to tap domestic capital markets
Medial

MakeMyTrip, a travel platform listed on NASDAQ, is considering an initial public offering (IPO) for its India operations. This strategic listing would allow the company to tap into domestic capital markets and strengthen its position in India. This represents the Gurugram-based company’s second attempt to list in India in the past five years. The decision to list in India comes at a time when MakeMyTrip’s market cap has dropped from $10 billion to $4.5 billion over the past six months. Analysts say that weaker demand in specific travel segments, along with broader industry challenges, led MakeMyTrip to miss its revenue estimates and push its stock to a 52-week low. According to a company press release, the firm is exploring a potential listing of MakeMyTrip India, the entity that owns its key brands and operations in the country. It recently completed an internal restructuring by merging RedBus India into MakeMyTrip (India) Private Limited which consolidated its core India businesses under a single entity. The announcement was part of a larger update where MakeMyTrip confirmed its commitment to becoming the leader in India's travel market by investing, buying other companies, and improving technology. The company expects the move to enable the use of India-listed equity as consideration for future growth initiatives. The firm recently acquired a majority stake in group tour operator Flamingo Transworld and made a strategic minority investment in visa processing platform Atlys to expand its travel ecosystem. The Rajesh Magao-led firm also attempted to list in India shortly after Covid (2021–2022). However, it could not proceed due to challenging market conditions, when its peer Ixigo also deferred its listing plans. On the financial side, MakeMyTrip’s operating revenue increased by 11% to $295.7 million in Q3 FY26 from $267 million in Q3 FY25, while its profit decreased by 74% to $7 million in the same period.

AbhiBus partners with CheckMyBus to expand global access to intercity travel in India

EntrackrEntrackr · 8m ago
AbhiBus partners with CheckMyBus to expand global access to intercity travel in India
Medial

AbhiBus partners with CheckMyBus to expand global access to intercity travel in India Online bus ticketing platform AbhiBus, part of ixigo’s bus business, has partnered with CheckMyBus, a Germany-based global intercity bus metasearch engine. Through this collaboration, CheckMyBus will integrate AbhiBus’s extensive network of over 4,000 bus operators and more than 3.5 lakh (350,000+) routes across India. This will enable both domestic and international travellers to easily search and book intercity and last-mile bus journeys across the country. CheckMyBus operates in over 90 countries, across 21 local domains and 12 languages, offering a one-stop comparison platform for intercity transport. With this integration, users worldwide will gain visibility into India’s bus routes, schedules, and prices—alongside other modes of transport. Marc Hofmann, CEO of CheckMyBus, said, “We are delighted to welcome AbhiBus’s vast network onto our platform. By integrating thousands of Indian bus operators, we strengthen our mission to make bus travel a seamless experience worldwide. This partnership brings unprecedented access and convenience to intercity travel in India.” AbhiBus aggregates inventory from over 4,000 operators, including major State Road Transport Corporations (SRTCs), and is the official ticketing partner for several of them, as well as for IRCTC bus bookings. The platform allows users to compare fares, view bus amenities and schedules, track buses live, and access features such as cancellation protection. Since its inception, AbhiBus has focused on a customer-first approach with innovative features like Abhi Assured for reliable, on-time travel; Pink Seat for the safety and comfort of female travellers; and Bus Insights for route and operator ratings based on real traveller feedback.

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