MakeMyTrip's Board Transforms After Trip.com Share Repurchase
MakeMyTrip has seen a significant change in its board composition following a share repurchase agreement with Trip.com. The exchange of Class B shares, completed on July 2, 2025, has led to three seats being taken over by Trip.com representatives.
The repurchase, carried out under an amended and restated agreement dated June 23, has reduced Trip.com's voting power from 45.34% to 16.90%. MakeMyTrip has bought back over 3.4 crore Class B shares, totalling 34,372,221, which have since been cancelled, leaving the company with 95,383,399 shares outstanding.
Consequently, Trip.com's board representation has been reduced. Three of its nominated directors have resigned, while MakeMyTrip has appointed three new directors: Vivek N Gour, Savinilorna Payandi Pillay Ramen, and Mohit Kabra, who also serves as the group's chief financial officer. The board now comprises ten members, with Trip.com holding two seats.
The share repurchase has led to a shift in MakeMyTrip's board dynamics, with Trip.com's influence reduced and new directors appointed. The company now looks ahead with a board of ten members, ready to navigate the future of the travel industry.
