MakeMyTrip, India's Largest online travel company to become to hold initial share sale in USA

July 26 (Bloomberg) -- MakeMyTrip Ltd., India’s largest online travel company, aims to raise as much as $100 million on the Nasdaq Stock Market to become the nation’s first firm to hold an initial share sale in the U.S. in four years.

Morgan Stanley, Oppenheimer & Co. and Pacific Crest Securities LLC will manage the offering, according to a Securities and Exchange Commission filing yesterday. The company will be India’s first to list in the U.S. since Mumbai-based back-office services provider WNS Holdings Ltd. raised $255 million in July 2006, according to Bloomberg data.

MakeMyTrip, based in Gurgaon near New Delhi, will use the proceeds from the share sale to acquire or invest in businesses and for working capital, it said. The company is the largest Indian online travel firm based on gross bookings last year, it said, citing data from travel research firm PhoCusWright Inc.

The company began operations in 2000 by offering travel services to non-resident Indians in the U.S., according to the filing. It started offering services domestically in September 2005, and posted a loss of $6.2 million for the year ended March, according to the filing.

--Editors: Chitra Somayaji, James Gunsalus
To contact the reporter on this story: Ruth David in Mumbai at rdavid9@bloomberg.net
To contact the editor responsible for this story: Brett Miller at Bmiller30@bloomberg.ne

India Unveils 'Laptop' Costing $35

India Unveils 'Laptop' Costing $35: "India’s Human Resource Development Minister Kapil Sibal unveiled a touchscreen tablet that he claims they will be able to produce for just $35. The device is being aimed at students, and seems to be taking the One Laptop Per Child idea and running with it. 'Despite the price, users will get a touch-screen, a PDF reader and a webcam for video conferencing. There has been no confirmation of its specifications but reports suggest 2GB of memory, Wi-Fi and Ethernet and power consumption at just 2W. Naturally, the device will run Linux.'

The device was developed by the the Indian Institute of Technology and the Indian Institute of Science as part of a national initiative to provide technology to the educational system. If the R&D has already been done, and that substantial capital expenditure doesn't need to be built into the price, and it'll be using a Free operating system, it's not too far-fetched to claim that the hardware could be built for $35. The iPhone costs less than $180 to make, and it's substantially smaller, more powerful, and more feature-rich.

I think that the best thing that could happen to this project would be to make these devices widely available to enthusiasts in the developed world as soon as possible, at a small profit. At under $50, a lot of geeks would buy them as curiosities, and I'd bet that a robust hacker culture would develop around them. Not only would some of that enthusiasm result in software and hardware improvements that could be folded back into future versions of the $35 device, but the more people out there using these, the more meaningful students' work with them would be, since they would be learning with a device that's popular with hackers worldwide.

On the OS front, I can see dozens of customized Linux distros being released for this device, to serve various purposes, from scientific instruments to media players, which would only make the device's original aim of improving technical education for India's students more easily achievable.

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Jet Airway shows Net Profit

MUMBAI — India's largest private sector airline, Jet Airways, has swung to a quarterly net profit from a loss a year earlier, led by a rise in passenger air traffic, a statement Friday said.
Jet posted a net profit of 35 million rupees (740,000 dollars) for the first quarter of the financial year to June from a loss of 2.25 billion rupees in the same period a year earlier.
Total revenues for the quarter rose 24 percent to 30.23 billion rupees.
"The airline has seen nine straight months of robust growth," Nikos Kardassis, chief executive of Jet Airways, said in a statement.
Jet said it suffered a revenue loss of 7.2 million dollars due to the impact of Iceland's volcanic ash eruptions in April which hit air travel globally.
In the quarter, international operations accounted for 56 percent of total revenues and the airline achieved a seat load factor of 80.1 percent compared with 76.5 percent a year earlier.
Jet carried 3.55 million passengers in the quarter, up 37 percent in the same period a year earlier.
The airline forecast a revival in demand for business class seats as India's economy grows strongly.
Jet shares fell 2.26 percent or 14.2 rupees to 614.1 rupees ahead of the earnings announcement.
Jet operates a fleet of 89 aircraft and flies to 66 destinations in India and abroad.
India's airline sector has been one of the most vibrant symbols of the country's economic progress.
The sector, which was hit by soaring fuel prices and the global slowdown last year, has been recovering in line with a rebounding Indian economy.
The economy is projected to grow by 8.5 percent this financial year to March 2011.

3 places to visit in India

India is a beautiful country in South Asia. It has been emerged as a globally famous tourism destination appealing tourists from all over the world. There are a number of exotic tourist places in this country which attracts tourists and vacationers through out the entire globe. Have a look at three great places to visit in India.
Delhi – Delhi is the capital city of India. It is an ancient and historical city with many historical and heritage monuments and other ancient and modern attractions. City tour in Delhi is a unique experience as it provides tourists a deep insight into rich culture and cultural heritage of India. The city is home to three world heritage sites. They are Red Fort (one of the most opulent mughal monuments in India), Qutub Minar (the longest brick minaret in the world) and Humayun’s Tomb (the first garden tomb of India). India Gate (war memorial monument), Old Fort, Lotus Temple (one of Seven Wonders of India), Akshardham Temple (the largest Hindu temple complex in the world), Lodhi Gardens, Laxmi Narayan Temple, President House, Parliament House, Raj Ghat (the Gandhi Memorial), etc are key attractions of Delhi city tours and travels. Indeed, Delhi is an important and must visit tourist place in India. Certainly you will love to explore Delhi on your India visit. Delhi is also base to visit Agra – the City of Taj Mahal, one of the Seven Wonders of the World. Varanasi, Khajuraho, Shimla, Manali, Jaipur, Jaisalmer etc are some other important tourist places which can be conveniently accessed from Delhi.
Rajasthan – Rajasthan is one of the most visited tourist places in India. It is a great tourist place with great tourism opportunity and excellent accommodation facilities. Jaipur, Udaipur, Jaisalmer, Jodhpur, Bikaner, Mandawa, Kota, Chittorgarh, etc are known tourist places in the royal and imperial state of Rajasthan. Rajasthan travel package provides tourist a wonderful opportunity to explore the historical cities of the states and many magnificent forts, palaces, havelis and temples. Rajasthan is also home to two national tiger reserves namely Ranthambhore National Park and Sariska Tiger Reserve. Famous Bharatpur Bird Sanctuary is also in Rajasthan.
Goa – Goa is a tiny emerald land on the western part of India. It is the smallest but one of the most charming and captivating states of India. It has been emerged as a globally famous destination for marvelous tourism and holidays with great accommodation facilities. Beaches, churches, convents, temples, colonial homes, forts, palaces, wildlife, nightlife, beach parties, water sports, etc are featured attractions of Goa tourism. So Goa can be a very enchanting destination of itinerary of your India tours package.
There are many more tourist places in India which can be attractions of an India travel package. So, choose a right travel package and enjoy best of India tourism exploring its great tourist places.

The Road to Nowhere – Bidar, North Karnataka, India

The Road to Nowhere…
Bidar, North Karnataka, India

Another weekend is around the corner and I’m thinking of a place to go to. This feeling of restlessness envelopes me weekend after weekend – an all-consuming desire to move out of the trappings of a mundane city existence out into the open, where there is so much more waiting to be explored. As Friday approaches, my mind is agog with ideas on the options I have and by the time I leave office, I know where exactly I’m spending my weekend. This time it was going to be the quaint medieval town of Bidar in North Karnataka.
I took an early morning bus from Hyderabad from the Imliban bus stand, said to be largest in Asia. It was a cool July morning and I prepared myself for the 4-hour journey to Bidar. After crossing the extensive suburbs of Hyderabad, it is a rather plain journey with nothing much to write home about. I slept almost all the way. I had hot piping Idlies on a wayside stop before reaching Bidar at around 10 in the morning. I found a cheap place to stay and after taking a quick bath set out to explore the town. The best way to move around is the bicycle (ostensibly called ‘cycle taxis’). However one needs to show a proof of identity (which I didn’t have) to hire one from the many shops near the bus stand. This meant I’ll have to depend on public transport or walk the entire distance – not a bad prospect in the pleasant cloudy weather.

My first port of call was the Bidar fort, reminiscent of the glorious days of Bidar, and the chief attraction of the town. A moat several feet wide and three layers of huge walls guard the entrance to the fort. Most of the structures inside the fort are in ruins now but there is ample evidence of the grandeur that once was. Built in the 15th century by the Bahamani sultans, this is one of the largest forts in the country. For a fort this grand, it is surprisingly empty. There is a whole cluster of palaces inside the fort – Rangin Mahal, Tarkash Mahal, Gagan Mahal and Takht Mahal. Besides these, there is a huge mosque called the Solah Khamba Masjid, one of the largest mosques in India. The mosque has six rows of sixteen pillars each and hence the name. The view from inside the mosque is rather imposing with the huge bulbous dome in the center and rows of pillars all around it.

Adjacent to the mosque is perhaps the most beautiful of the palaces – the Tarkash Mahal. It is a seven-storied structure with three of the floors below the ground level. In fact it is said that the whole fort is as much below the ground as it is above it. Huge arched gateways and dilapidated, dark, narrow-winding staircases give the palace a rather eerie appearance. Through the several arched windows, you can look down on the entire town. Interestingly the palace walls are adorned with several typical Hindu motifs of creepers and animals, a testimony to the secular nature of this fort. I hired the gardener working on the lawns to show me around the palace and the mosque. Actually to be frank, I did not feel too comfortable going through the dark alleys and narrow staircases alone. Plans are afoot to organize Sound and Light shows in the fort and so the gardens are being done up and the fountains repaired. The other palaces too are in varying stages of decadence thanks to the fury of the elements and the disregard of the ASI. These days the fort acts, by turns, as a grazing ground for the cattle and as a cricket playground for the local lads.

All along the walls there are several bastions with huge cannons positioned in a couple of them. Standing on these bastions one can see a long way ahead. Beyond the fort walls are steep cliffs probably a couple of hundred feet or so in depth. The two temples inside the fort precincts further reinforce its secular nature. The curator of the museum is showing a European couple around the fort. I just tag along for some time listening to his animated commentary in broken English….more comic than informatory – not a very good way to showcase our prized treasures to the outside world. After spending a good couple of hours exploring the fort, I decided to move on.
Near the fort, in the heart of the walled city stands the Madarsa of Mahmud Gawan, a renowned Persian scholar in the 15th century. In its heydays, the madarsa attracted students from all over the Islamic world. It was struck by lightening leaving only one of the minarets intact and destroying a large part of the building. The huge courtyard of the madarsa serves as a kind of meeting point. When I went there around noon, there were people sitting on the steps reading newspapers and discussing the events of the day.

Next I set out for the Bahamani tombs, around 6 km away from the town in a small village called Ashtur. Unable to find a public transport, I walked the whole distance in the hot sun. The first tomb on the way is a beautiful octagonal structure called the Chaukhandi, the tomb of Hazrat Khalill Ullah, a revered saint of that period and the spiritual advisor of the Bahamani sultan, Allaudin Shah. Further ahead there is a whole cluster of the tombs of the Bahamanis and their families. Nothing very remarkable about these tombs except for the one belonging to Allaudin Shah, which houses a few Muslim paintings. However the tomb of Humayun, the cruel, which was split open into half by a lightening strike a few decades ago is quite…. well, striking. It is almost like an onion bulb cut into half along the vertical axis. The best part however is the location of these tombs. Far out into the countryside, within a clutch of trees, it offers immense quiet. I sat there for almost half an hour waiting for the bus to take me back to the town.

Next I decided to explore the Barid Shah tombs just beside the state transport bus stand. The tombs are located in lush green surroundings and are surrounded by trees all around. The best preserved of the tombs is the one belonging to Ali Barid. Unlike most tombs, this tomb is open on all the four sides and is on a raised plinth. There are remnants of colored tiles and beautiful calligraphy inside the tomb. Interestingly, near the tomb is the mass graveyard of the 64 mistresses of Ali Barid. The tomb acts as a kind of a community center for the entire town. When I was there around dusk, there were boys of all ages studying under the huge archways, a few middle aged pot bellied men trying to touch their toes and a whole lot of other people just gossiping their time away. In the fields around the tomb, there are football, volleyball and cricket matches in progress. The whole place looks very beautiful in the fading light of the day. I sat on the raised plinth for quite some time till it was quite dark and I felt the first pangs of hunger. Deciding to come back early next day, I left the place for my hotel.
Next day I woke up early to keep my date with the Barid Shah tombs. When I reached there, the same scene as yesterday repeated itself. Tens of children deeply immersed in their books, a few young men doing their daily exercises, men of all ages reading newspapers, a middle aged laughter club in progress and lot of people walking/jogging in the greens around. As the sunlight filtered in through the trees, the level of activity increased further. I find this idea of monuments being witness to generation after generation of human activity very overwhelming in some ways. More than five centuries ago, the Badiri Shahs would have been regular visitors to these tombs to pay their obeisance to the departed souls. If only these walls could speak, they would recount tales of bravery and grandeur, of love and faith, of debauchery and drunken revelry. After some more philosophical romanticizing, I returned back to the hotel to plan the day ahead.

The Karnataka government promises one of the ‘finest specimens of Chalukyan architecture’ in a small village, Jalsangwi, about 40 kilometers away from Bidar. Since I did not have any other plans, I thought I’d have a look. After much enquiring, I finally found a bus that would drop me on the highway from where the temple is another 2 kms away. After an hour in the bus, I got down on the country road to the temple. After more than 30 mins of walking through swaying fields of sugarcane and maize, I finally reached the village. The temple though was a disappointment. Though the figurines on the outer walls are beautiful and immaculately proportioned, the temple itself is in a sorry state. The locals gawk at the sight of a rucksack carrying lean guy clad in six-pocket gabs (wearing that was a mistake). I wandered around for some time before taking a bus back to Bidar. After reaching Bidar, I quickly had my lunch before starting on the journey back to Hyderabad.
As I board the bus back to Hyderabad, the sky is veiled in dark black clouds. Just as the bus turns into NH9, it starts to rain heavily. The sound of the rain lashing against the windowpanes and the gentle rocking of the bus soon puts me to sleep. I’m already dreaming of the next weekend.

The Golconda Fort – Hyderabad, India

An old, crowd-puller of a fort – and you’re welcome!

There are always the must-sees in every city. Hyderabad has its Golconda Fort – the ancient royal crowd-puller. It caught the fancy of the Qutubuddins of the yesteryears, then came Alexander the great, and now throngs of tourists visiting or residing in the city. Sometimes you wonder what is it that really drives people to ruins. A sense of curiosity, a peek into the past? A historian or geologist might be a rare specimen, but you’d mostly find curious tourists like you and me, climbing up the fort, clicking every corner, soaking in every view possible.

Touristy and avoidable weekend experience

I’m not a huge fan of crowds and I like having places to myself. Especially the impossible public ones, like restaurants and monuments. The fort, right at the outskirts of Hyderabad, is accessible in an easy drive of about thirty to forty five minutes. And unless you’re suffering from demophilia (a fondness for crowds), you’d rather enjoy the magnificence of such a place in more or less, your own company. Yet, since Golconda finds its way on every visitor’s Things-to-do-in-Hyderabad list, I’m just going to have to learn to share my space.

The entrée is similar to any other monument in India – long (but fast moving) queues, families in hordes excited about their outing irrespective of the place; also telling you that the big old Indian family is hale and hearty. Then of course we have the guides, desperate to be picked and last but not the least, the hawkers – selling you postcards even before you get in. Basically, the works.
Ramparts
Ramparts

The curious case of The Golconda Fort

As legend has it, the fort derives its name from Golla Konda, which is a Telugu word for Shepherd’s Hill. It’s when a shepherd boy stumbled upon (stumble.com’s inspired beginnings?) an idol on the hill, it led to the construction of a mud fort by the then Kakatiya dynasty ruler around the site. And voila – you have a Golconda!

Two must haves – Guide & Water

The weather’s usually hot. Begin your journey with a bottle of water which you will not find until a certain climb. I was reminded of my utter carelessness every few steps. And the next best thing would be to hire a guide, even though you might have done your Wiki references. Stories are always better told in person. So, let’s pause and remember our grandmothers here.

Clap for an attack

As you enter the main gate, known as the Fateh Darwaza (Victory Gate), you will be amused by all the clapping and chaos under a dome. This is where a guide comes in ‘handy’ – a hand clap at a certain point below the dome at the entrance reverberates and can be heard clearly at the highest point – the ‘Bala Hisar’ pavilion, almost a kilometer away. This worked as a warning note to the royals in case of an attack.
The clap can be heard here
The clap can be heard here

The Kohinoor

My parched journey continues towards the erstwhile home of the Kohinoor that actually lies in The Tower of London now. It is also known as the Mountain of Light that passed from one conqueror to another over some 400 odd years. At one time, Golconda was known to be the only diamond mine in the world. So all you women, come and pay your respects!

As we move up, soaking in some luxurious views of the city, we come across the Ramdas jail and the Mahakaali temple, which surprisingly wasn’t destroyed in the multi-cultural takeovers. I have great admiration for this sense of respect for another’s culture and traditions. Unlike the Bush’s of the world, perhaps, war had its method to madness then.

Having reached the Bala Hisar pavilion – the highest point of the fort, our guide roughly started shooing away a bunch of mirth-making youngsters who were hindering his moment of the day. He demanded silence, and then, clapped. Amidst our bated breaths, we heard the faint sound of a clap all the way from below! This was truly a moment. Like fascinated children, we asked them to repeat it a few more times. Sheer genius and creativity for times that didn’t have Google Maps or Dolby surround sound!


The story-telling light show

We were to assemble ourselves in an open amphitheatre arrangement on our way down, when our guide insisted on us walking to a tomb and made two of us face the wall corners in opposite directions. Then he asked one of us to whisper – literally whisper. The other one on the opposite side could actually hear what was being said – which was something as inane and obvious as “Hey, can you hear me?!” This had to be one of the most exciting moments of my visit to the fort, where our decibels went lower but the sheer excitement, much higher.

As it turned dark, the storytelling session began as a recorded narrative, lighting up spots & avenues that came across as a part of the story. The first change that I recommend here would be finding your place in some corner of the amphitheatre or some rock seating for the show rather than a chair arrangement – it would go a long way to make the audience an integral part of the place and the story. And the second one would be editing the tale itself! It’s long enough to put you to sleep – especially after the mildly tiresome excursion.

What I quite like about this fort is that it’s really been large-hearted to have retained the sentiments of another’s era and culture. The Golconda is a unique example of Hindu-Muslim architectural planning and influences. It retained the Mahakaali temple, called its jail the Ramdas Jail and also played home to some of the most powerful Muslim sultanates in the region. This piece-de-magnificence is characteristic of the engineering marvel, architectural precision and spellbinding craftsmanship over the centuries, which is evident through its ventilation, acoustics, water systems, secret escapes and enchanting entrances & domes.

I must admit, delighted I was to have done the much heard of Golconda fort, in spite of the lurking crowds and the heat. History sure knows how to command attention anywhere in the world. It may just be another old crumbling fort, but it has its enchanting moments for you. Go ahead, cut your ticket for a Golconda experience.