RBC Boosts Stake in MakeMyTrip by 53.8%

Canadian financial institution Royal Bank of Canada (RBC) has significantly increased its stake in MakeMyTrip Limited, a leading online travel company. According to RBC's latest 13F filing with the Securities and Exchange Commission (SEC), the bank boosted its holdings in MakeMyTrip by 53.8% in the first quarter. This acquisition added 1,223,963 shares to RBC's existing portfolio, bringing its total stake to 3,498,642 shares.

RBC now owns approximately 3.14% of MakeMyTrip's outstanding stock, valued at $130,464,000 as of the end of the most recent reporting period. This significant investment in MakeMyTrip highlights RBC's confidence in the company's growth prospects and its potential to deliver returns for investors.

MakeMyTrip provides a range of travel-related services through its website and mobile app platform, including air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, and corporate travel management solutions. The company has grown significantly since its founding in June 2000 by Deep Kalra, becoming one of India's leading travel technology firms.