SCHEDULE 13G: GIC Private Ltd Discloses Significant 7.84% Stake in MakeMyTrip Ltd

GIC Private Ltd, a Singaporean fund manager, has disclosed a 7.84% beneficial ownership stake in MakeMyTrip Ltd, holding 6,863,918 ordinary shares.

Summary

• GIC Private Ltd reported beneficial ownership of 6,863,918 ordinary shares of MakeMyTrip Ltd.
• This ownership represents 7.84% of MakeMyTrip Ltd's outstanding common stock.
• The percentage is calculated based on 87,594,512 shares of common stock outstanding as of June 17, 2025.
• GIC Private Ltd holds sole voting power and sole dispositive power over 5,776,307 shares.
• GIC Private Ltd shares voting power and dispositive power over 1,087,611 shares with the Monetary Authority of Singapore (MAS).
• GIC Private Ltd acts as a fund manager for two clients: the Government of Singapore (GoS) and the Monetary Authority of Singapore (MAS).
• The Government of Singapore disclaims beneficial ownership of the shares managed by GIC.

Sentiment

Score: 7

Explanation: The disclosure of a significant stake by a major institutional investor like GIC Private Ltd is generally viewed positively as it indicates confidence in the company's long-term prospects and can attract further investor interest.

Positives

• A significant stake by a major institutional investor like GIC Private Ltd can signal confidence in MakeMyTrip Ltd's long-term prospects and stability.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding MakeMyTrip Ltd's future performance or GIC Private Ltd's future investment intentions beyond the ownership itself.

Management Comments

• GIC Private Ltd certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of MakeMyTrip Ltd, and were not acquired or held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

GIC Private Ltd's investment in MakeMyTrip Ltd, a prominent online travel company, reflects continued institutional interest in the digital travel and tourism sector, particularly in emerging markets like India. This type of investment by a sovereign wealth fund manager can be seen as a long-term strategic play in a growing industry.

Related Party Transactions

• GIC Private Ltd manages funds for the Government of Singapore (GoS) and the Monetary Authority of Singapore (MAS). GIC has sole discretion over voting and disposition for shares managed on behalf of GoS, and shares power with MAS for other securities. The GoS disclaims beneficial ownership of such shares.

Stakeholder Impact

• Shareholders may view GIC Private Ltd's significant investment as a positive signal, potentially increasing investor confidence and attracting further institutional interest in MakeMyTrip Ltd.

Key Dates

Keywords

MakeMyTrip, GIC Private Ltd, Beneficial Ownership, Schedule 13G, Institutional Investment, Travel Technology, Singapore, India