UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of December 2016
Commission File Number 001-34837
MAKEMYTRIP
LIMITED
(Exact name of registrant as specified in its charter)
Not Applicable
(Translation of registrants name into English)
Mauritius
(Jurisdiction
of incorporation or organization of registrant)
Tower A, SP
Infocity, 243,
Udyog Vihar, Phase 1
Gurgaon, Haryana 122016, India
(Address of principal executive office)
Indicate by check mark whether
the registrant files or will file annual reports under cover
Form 20-F
or
Form 40-F.
Form
20-F
☒
Form
40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
MakeMyTrip Limited (MakeMyTrip) is incorporating by reference the information set forth in this Form
6-K into its notice of special meeting of shareholders and proxy statement (the Proxy Statement), each dated November 22, 2016, and submitted on Form 6-K to the SEC on such date.
Other Information
Audited Historical Carve-out
Combined Financial Statements of ibibo Group
Pursuant to the terms of the Transaction Agreement (the Transaction
Agreement), dated October 18, 2016, between MakeMyTrip, MIH Internet SEA Private Limited and MIH B2C Holdings B.V., prior to the consummation of the transactions contemplated thereunder (collectively, the Transaction), ibibo Group
will carve out its ownership stakes in PayU Global B.V. (PayU) and Tek Travels Private Limited (TBO), such that upon the closing of the Transaction, MakeMyTrip will acquire Ibibo Group Holdings (Singapore) Private Limited
(ibibo Group) without its ownership in PayU and TBO.
In order to provide shareholders with additional information regarding
ibibo Group, the carve-out combined financial statements of ibibo Group (the ibibo Financial Statements), which comprise the carve-out combined balance sheets as of March 31, 2016, March 31, 2015 and April 1, 2014, and the related
carve-out combined statement of profit and loss and other comprehensive income (loss), combined statement of changes in invested capital and combined statement of cash flows for the years ended March 31, 2016 and March 31, 2015 are attached hereto
as Exhibit 99.1. The ibibo Financial Statements have been prepared on a carve out basis to reflect the financial information of ibibo Group without its ownership stake in PayU and TBO for the periods indicated.
Key Performance Indicators
As described
more fully in the section of the Proxy Statement titled Recommendation of the Board of Directors and Reasons for the Transaction Reasons for the Transaction, MakeMyTrips discussions with Parent and its affiliates regarding
the acquisition of ibibo Group were not based on price, but were instead based on the relative valuations of ibibo Group and MakeMyTrip, utilizing certain key performance indicators important to both companies businesses (such as the
Number of Transactions serviced by various business segments of each of MakeMyTrip and ibibo Group, the ability to scale the bus ticketing business and a pro rata cash infusion from Parent).
In addition to the information regarding key performance indicators as set out in the Proxy
Statement, additional information regarding the ibibo Group (being the ibibo Financial Statements) is being provided to shareholders of MakeMyTrip. Revenues of ibibo Group are calculated net of discounts and rebates (unless such discounts are higher
than the commission income, in which case net discounts are accounted for as advertising and sales promotion expenses). The Revenue before adjustment for discounts and rebates for ibibo Group for the year ended March 31, 2016 amounted to USD
103.6 million and after adjustment for discounts and rebates amounted to USD 60.5 million. Likewise, the Revenues less Service Costs before adjustment for discounts and rebates amounted to USD 82.1 million and after adjustments for discounts and
rebates amounted to USD 38.9 million.
Djubo Right of First Refusal
As described more fully in the section of the Proxy Statement titled Transaction Agreements Additional Terms The
Transaction Agreement, ibibo Group currently owns a 31.7% stake in Saaranya Hospitality Technologies Private Limited, India (Djubo). Pursuant to the articles of association of Djubo, the other shareholders of Djubo have rights of
first refusal to purchase ibibo Groups equity in Djubo that are triggered by the Transaction. On November 23, 2016, the other shareholders of Djubo waived such rights of first refusal. The ibibo Groups interest in Djubo will be included
within the scope of the Transaction at Closing (without amending any other terms of the Transaction, including the consideration being paid therefor).
Where to Find Additional Information
MakeMyTrip is a foreign private issuer. As such, MakeMyTrips Proxy Statement and other proxy materials with respect to the Transaction,
including this Form 6-K, will not be subject to preliminary review and comment by the SEC. Accordingly, MakeMyTrips proxy materials have not been reviewed by the SEC and may not have all of the disclosures required to be included under the
SECs rules that apply to U.S. domestic issuers. The Proxy Statement contains risk factor disclosure alerting its shareholders of the foregoing.
Shareholders are urged to carefully read the Proxy Statement, any information and documents incorporated by reference therein and any other
relevant documents submitted or filed with the SEC, including this Form 6-K, when they become available, because they contain important information about MakeMyTrip and the Transaction. Copies of the Proxy Statement, any information and documents
incorporated by reference therein and other documents submitted or filed by MakeMyTrip with the SEC, including this Form 6-K, are available at the website maintained by the SEC at
www.sec.gov
. Copies of such filings also can be obtained,
without charge, by directing a request to Jonathan Huang, Vice President Investor Relations at
Jonathan.Huang@makemytrip.com
or +1 (917) 769-2027.
Participants in the Solicitation
MakeMyTrip and its directors and executive officers may be deemed to be participants in the solicitation of proxies in favor of the Transaction
from the shareholders of MakeMyTrip. Information about the directors and executive officers of MakeMyTrip is set forth in MakeMyTrips annual report on Form 20-F, which was filed with the SEC on June 14, 2016. Shareholders may obtain additional
information regarding the interests of MakeMyTrip and its directors and executive officers in the Transaction, which may be different than those of MakeMyTrips shareholders generally, by reading the Proxy Statement (including all information
and documents incorporated by reference therein, including this Form 6-K).
Exhibits
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99.1
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Carve-out combined financial statements of Ibibo Group Holdings (Singapore) Private Limited, which comprise the carve-out combined balance sheets as of March 31, 2016, March 31, 2015 and April 1, 2014, and the related carve-out
combined statement of profit and loss and other comprehensive income (loss), combined statement of changes in invested capital and combined statement of cash flows for the years ended March 31, 2016 and March 31, 2015.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
Date: December 2, 2016
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MAKEMYTRIP LIMITED
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By:
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/s/ Deep Kalra
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Name:
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Deep Kalra
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Title:
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Group Chairman and
Group Chief Executive
Officer
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