Ixigo IPO: Travel platform files draft papers for Rs 1,600 cr public issue
As per the initial prospectus submitted with SEBI, ixigo's IPO would comprise a fresh issue of Rs 750 crore and an offer for sale (OFS) to the tune of Rs 850 crore by existing stakeholders
- Aug 13, 2021,
- Updated Aug 13, 2021 3:57 PM IST
Gurugram-based Le Travenues Technology Ltd, which operates travel booking app ixigo, has filed the draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) to raise Rs 1,600 crore through its initial public offering (IPO).
As per the initial prospectus submitted with SEBI, ixigo's IPO would comprise a fresh issue of Rs 750 crore and an offer for sale (OFS) to the tune of Rs 850 crore by existing stakeholders.
The OFS includes sales of up to 550 crore by Saif Partners India IV, Rs 200 crore by Micromax Informatics, and Rs 50 crore each by Aloke Bajpai and Rajnish Kumar.
Also Read: MakeMyTrip exits ixigo ahead of IPO
At present, SAIF Partners holds 23.97 per cent in the company, Micromax 7.61 per cent, Aloke Bajpai 9.18 per cent and Rajnish Kumar 8.79 per cent stake in the firm.
Proceeds of the fresh issue will be used to fund the company's organic and inorganic growth initiatives and for general corporate purposes.
Launched in 2007 by Aloke Bajpai, Ixigo is focused on empowering travellers to plan, book and manage their travels by leveraging artificial intelligence, machine learning and data science-led innovations.
Also Read: Former Paytm director urges SEBI to stall Rs 16,600 cr IPO
The Gurugram-headquartered company has a user base of over 250 million. In July, ixigo raised $53 million, through a combination of primary and secondary issuance of shares, from investors, led by Singapore sovereign wealth fund GIC.
It has weathered the coronavirus pandemic well and managed to grow despite most travel companies being at under half of FY20 revenues in FY21.
ICICI Securities, Axis Capital, Kotak Mahindra Capital, Nomura Financial Advisory and Securities are the lead managers to the issue.
(With inputs from PTI.)
Gurugram-based Le Travenues Technology Ltd, which operates travel booking app ixigo, has filed the draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) to raise Rs 1,600 crore through its initial public offering (IPO).
As per the initial prospectus submitted with SEBI, ixigo's IPO would comprise a fresh issue of Rs 750 crore and an offer for sale (OFS) to the tune of Rs 850 crore by existing stakeholders.
The OFS includes sales of up to 550 crore by Saif Partners India IV, Rs 200 crore by Micromax Informatics, and Rs 50 crore each by Aloke Bajpai and Rajnish Kumar.
Also Read: MakeMyTrip exits ixigo ahead of IPO
At present, SAIF Partners holds 23.97 per cent in the company, Micromax 7.61 per cent, Aloke Bajpai 9.18 per cent and Rajnish Kumar 8.79 per cent stake in the firm.
Proceeds of the fresh issue will be used to fund the company's organic and inorganic growth initiatives and for general corporate purposes.
Launched in 2007 by Aloke Bajpai, Ixigo is focused on empowering travellers to plan, book and manage their travels by leveraging artificial intelligence, machine learning and data science-led innovations.
Also Read: Former Paytm director urges SEBI to stall Rs 16,600 cr IPO
The Gurugram-headquartered company has a user base of over 250 million. In July, ixigo raised $53 million, through a combination of primary and secondary issuance of shares, from investors, led by Singapore sovereign wealth fund GIC.
It has weathered the coronavirus pandemic well and managed to grow despite most travel companies being at under half of FY20 revenues in FY21.
ICICI Securities, Axis Capital, Kotak Mahindra Capital, Nomura Financial Advisory and Securities are the lead managers to the issue.
(With inputs from PTI.)