Ibibo and Make My Trip.com are now merging. This could be the biggest merger that Indian e-commerce travel companies would have made. Make my trip taken over the Ibibo group completely and has now 100% shares of it.

South Africa's Naspers and China's Tencent Holdings are selling ibibo Group to MakeMyTrip in exchange for an issuance of new shares by MakeMyTrip, the company said in a statement.

The alliance will create a mega entity that will control a fifth of the lucrative airline booking market and also have significant shares in the bus and hotel bookings, and ride-sharing spaces.Experts tell that ibibo was valued to about $400 - $700 million dollars.

"With the combined entity having around 60% market share of the approximately 100,000 online daily hotel room nights sold in the country, the MakeMyTrip-Ibibo merger signals a big shift in the balance of power. Margin pressure will reduce significantly, allowing MakeMyTrip to invest in growing the overall market," the analyst said.

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