Proud Indian Company: MakeMyTrip Rubbishes EaseMyTrip's Allegations On Chinese Ownership

At a time when the public sentiment in the country is against countries like China, Turkey and Azerbaijan for helping Pakistan in its recent conflict against India, two Indian online travel aggregators (OTAs) EaseMyTrip and MakeMyTrip seem to be involved in a skirmish.

A day after EaseMyTrip founder and chairman Nishant Pitti alleged that MakeMyTrip is majorly owned by China and may expose the data of Indian soldiers who use the platform, the latter rubbished the allegations.

A spokesperson of MakeMyTrip called the accusations “malicious or motivated”.

“MakeMyTrip is a proud Indian company, founded by Indians, headquartered in India, and trusted by millions of Indian travellers for over 25 years. We are a publicly listed company on the Nasdaq, with a diverse shareholder base spanning the globe. Our operations are independent, steered by a seasoned team of Indian professionals who bring a wealth of expertise and a commitment to excellence,” the spokesperson added.

MakeMyTrip has “stringent corporate governance standards” and fully complies with all applicable Indian laws and data privacy frameworks, the spokesperson said.

What’s Behind Pitti’s Allegations?

The founder of EaseMyTrip, which competes with MakeMyTrip, said in a post on X yesterday,

“Indian armed forces book discounted tickets via a platform majorly owned by China, entering Defence ID, route & date. Our enemies know where our soldiers are flying.”

He called for “patching” this “loophole”. The post also carried a number of screenshots of MakeMyTrip’s platform.

By Chinese ownership, Pitti was likely referring to Nasdaq-listed Chinese online travel company Ctrip’s stake in MakeMyTrip, acquired through a share-swap deal with Naspers in 2019.

MakeMyTrip, which also owns brands like Goibibo and Redbus, has Ctrip (Trip.com Group Limited) as its largest institutional shareholder, owning a 45.95% stake, as per .

Other notable shareholders in MakeMyTrip include Mirae Asset Global Investments, JP Morgan Asset Management, and Baillie Gifford, among others.

Meanwhile, foreign institutional investors held a 3.74% stake in EaseMyTrip at the end of the March quarter, as per its shareholding data. Earlier this year, Patti stepped down as the CEO of the company after in December 2024, bringing his ownership to 12.80%.

The cofounders of the company – Nishant Pitti, Rikant Pitti, and Prashant Pitti – were then on a stake selling spree. During the company’s Q2 FY25 earnings call, the cofounders were questioned about selling almost 25% of their stake since March 2023.

Following his stake sale in December, Nishant said there would be no more stake sale by any of the promoters.

The development comes at a time when many Indian travel platforms like ixigo, Cox & Kings and Pickyourtrails have suspended tour packages to Turkey and Azerbaijan in the wake of the India-Pakistan conflict. While EaseMyTrip has not suspended bookings, it has been urging Indians to avoid non-essential travel to these countries.

Yesterday, MakeMyTrip said it has in the last week, while cancellations have surged 250%.

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