MakeMyTrip Limited received an amended Schedule 13G/A filing showing updated ownership by Travogue Electronic Travel LLP and its partner, Deep Kalra. Travogue reports beneficial ownership of 2,352,900 ordinary shares, representing 2.60% of the company’s ordinary shares. Deep Kalra reports beneficial ownership of 3,699,950 ordinary shares, or 4.0% of the class, including the shares held by Travogue.
Kalra’s stake comprises 297,342 shares in his own name, 338,930 vested restricted stock units as of December 31, 2025, 705,300 currently exercisable ESOP shares, 5,478 shares held by his son, plus the 2,352,900 shares held through Travogue, where he and his spouse are the sole partners. The percentages are based on 90,357,514 ordinary shares outstanding as of December 31, 2025.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 9)
MakeMyTrip Limited
(Name of Issuer)
Ordinary Shares, par value US$0.0005 per share
(Title of Class of Securities)
V5633W109
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
V5633W109
1
Names of Reporting Persons
Travogue Electronic Travel LLP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
INDIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,352,900.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,352,900.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,352,900.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.60 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
V5633W109
1
Names of Reporting Persons
Deep Kalra
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
INDIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,347,050.00
6
Shared Voting Power
2,352,900.00
7
Sole Dispositive Power
1,347,050.00
8
Shared Dispositive Power
2,352,900.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,699,950.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.0 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
MakeMyTrip Limited
(b)
Address of issuer's principal executive offices:
19th Floor, Building No. 5, DLF Cyber City, Gurugram, 122002, India
Item 2.
(a)
Name of person filing:
Travogue Electronic Travel LLP ("Travogue")
Deep Kalra
(b)
Address or principal business office or, if none, residence:
The address of Travogue is 207, Chiranjeev Tower, 43, Nehru Place, New Delhi - 110019, India. The address of Mr. Deep Kalra is Flat No 818B, DLF Camellias, DLF City Phase-5, Gurugram, Haryana, 122009, India.
(c)
Citizenship:
Travogue is incorporated in the Republic of India. Deep Kalra is a citizen of the Republic of India.
(d)
Title of class of securities:
Ordinary Shares, par value US$0.0005 per share
(e)
CUSIP No.:
V5633W109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information contained on the cover pages of this Schedule 13G is hereby incorporated by reference to this Item 4.
The 3,699,950 ordinary shares, $0.0005 par value per share of the Issuer ("Ordinary Shares") shown as beneficially owned by Mr. Deep Kalra include 2,352,900 Ordinary Shares held by Travogue. Mr. Kalra and his spouse are the sole partners in Travogue as of the date hereof and, accordingly, may be deemed to share beneficial ownership of the 2,352,900 Ordinary Shares held of record by Travogue. Mr. Kalra also beneficially owns 1,347,050 Ordinary Shares in his individual capacity, which comprise (i) 297,342 Ordinary Shares held by him in his own name (ii) 338,930 Ordinary Shares underlying Restricted Stock Units that are vested as of December 31, 2025 (iii) 705,300 Ordinary Shares underlying ESOPs that are currently exercisable and (iv) 5,478 Ordinary Shares held by Mr. Kalra's son.
(b)
Percent of class:
The information contained on the cover pages to this Schedule 13G is hereby incorporated by reference to this Item 4.
The percent of class reported herein is based upon 90,357,514 Ordinary Shares outstanding as on December 31, 2025, and, for Mr. Kalra only, also additionally includes: (i) 338,930 Ordinary Shares underlying Restricted Stock Units that are vested as of December 31, 2025 and (ii) 705,300 Ordinary Shares underlying ESOPs that are currently exercisable.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See cover pages.
(ii) Shared power to vote or to direct the vote:
See cover pages.
(iii) Sole power to dispose or to direct the disposition of:
See cover pages.
(iv) Shared power to dispose or to direct the disposition of:
See cover pages.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Travogue Electronic Travel LLP
Signature:
/s/ Deep Kalra
Name/Title:
Deep Kalra / Designated Partner
Date:
02/06/2026
Deep Kalra
Signature:
/s/ Deep Kalra
Name/Title:
Deep Kalra
Date:
02/06/2026
Comments accompanying signature:
LIST OF EXHIBITS
Exhibit No.
99 Joint Filing Agreement (incorporated by reference to Exhibit A to the Schedule 13G filed by the Reporting Persons on February 14, 2011).
What does the Schedule 13G/A filing reveal about MMYT ownership by Deep Kalra?
The filing shows that Deep Kalra beneficially owns 3,699,950 MakeMyTrip ordinary shares, representing 4.0% of the class. This total includes shares held directly, vested RSUs, exercisable ESOPs, his son’s shares, and shares held through Travogue Electronic Travel LLP.
How many MakeMyTrip (MMYT) shares does Travogue Electronic Travel LLP hold?
Travogue Electronic Travel LLP reports beneficial ownership of 2,352,900 MakeMyTrip ordinary shares, equal to 2.60% of the outstanding class. Deep Kalra and his spouse are the sole partners of Travogue and may be deemed to share beneficial ownership of these shares.
How is Deep Kalra’s MakeMyTrip (MMYT) stake structured in the 13G/A filing?
Deep Kalra’s 3,699,950-share stake includes 297,342 shares in his own name, 338,930 vested RSUs, 705,300 currently exercisable ESOP shares, and 5,478 shares held by his son, plus 2,352,900 shares held through Travogue Electronic Travel LLP.
What percentage of MakeMyTrip (MMYT) does each reporting person own in this 13G/A?
Travogue Electronic Travel LLP reports 2.60% of MakeMyTrip’s ordinary shares, while Deep Kalra reports 4.0%. These percentages are calculated using 90,357,514 ordinary shares outstanding as of December 31, 2025, plus certain vested and exercisable awards for Kalra.
What is the share count base used in this MakeMyTrip (MMYT) ownership report?
The ownership percentages are based on 90,357,514 MakeMyTrip ordinary shares outstanding as of December 31, 2025. For Deep Kalra, the calculation also includes 338,930 vested RSUs and 705,300 ESOP shares that are currently exercisable.
When did the ownership event reported in this MakeMyTrip Schedule 13G/A occur?
The relevant ownership event is dated December 31, 2025, which is the date triggering this Schedule 13G/A amendment. Vested restricted stock units and currently exercisable ESOPs as of that date are included in Deep Kalra’s reported beneficial ownership.
