Tiger Global Reduces MakeMyTrip Stake ~ market folly

Thursday, November 6, 2014

Tiger Global Reduces MakeMyTrip Stake

Chase Coleman and Feroz Dewan's hedge fund Tiger Global has filed an amended 13G with the SEC regarding their position in MakeMyTrip (MMYT).  Per the filing, Tiger Global now owns 12.2% of the company with over 5 million shares.

This means they've reduced their position size by over 2 million shares since the end of the second quarter.  The filing was required due to activity on October 31st.

We've highlighted other recent portfolio activity from Tiger Global here.

Per Google Finance, MakeMyTrip is "an online travel company in India. The Company conducts its business principally through its Indian subsidiary, MakeMyTrip (India) Private Limited (MMT India). Through its primary Website, www.makemytrip.com, or MakeMyTrip.com, its subsidiaries’ websites, such as www.hoteltravel.com, www.makemytrip.ae, www.makemytrip.com.sg, and other technology-enhanced distribution channels in India, including its call centers, travel stores and travel agents’ network, travelers can research, plan and book a wide range of travel services and products in India as well as overseas. Its services and products include air tickets, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to travel insurance."

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