Ixigo IPO to open on June 10; check price band, lot size, listing date and more

The initial public offering (IPO) of Le Travenues Technology (Ixigo) is set to open on Monday, June 10, 2024. The company will be offering its shares in the range of Rs 88-93 apiece. Investors can apply for a minimum of 161 equity shares and its multiples thereafter until Wednesday, June 12.
 

Founded in 2006, Le Travenues Technology is an online travel agency (OTA) that enables travelers to book train, flight, and bus tickets as well as hotels under the brand name 'Ixigo'. The company has the highest app usage among OTAs with a cumulative 83 million monthly active users across its apps.
 

The IPO of Ixigo will include a fresh share sale of Rs 120 crore and an offer-for-sale (OFS) of up to 6,66,77,674 equity shares by its existing shareholders amounting to little more than Rs 620.10 crore. At the upper end of the price band, the company is looking to raise about Rs 840 crore via IPO route.
 

SAIF Partners India IV, Peak XV Partners Investments V, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Madison India Capital and Capital Trusteeship are the selling shareholders in the offer-for-sale. Anchor book will open on Friday, June 7.
 

The net proceeds from the issue shall be utilized towards part-funding working capital requirements of the company; investments in cloud infrastructure and technology; funding inorganic growth through unidentified acquisitions and other strategic initiatives; and general corporate purposes. Proceeds from the OFS shall go to the selling shareholders of the company.
 

Its list of services includes PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternative route or transportation planning, flight status updates, automated web check-in, bus running status, price and availability alerts, deal discovery, destination content, personalized recommendations, instant fare alerts for flights, AI-based travel planning service and automated customer support.
 

Ixigo reported a net profit of Rs 65.81 crore with a revenue of Rs 497.10 crore for the nine months ended on December 31, 2023. The company's bottomline came in at Rs 23.40 crore with a revenue of Rs 517.57 crore for the financial year 2022-23.
 

The company has reserved 75 per cent of the net offer for the qualified institutional bidders, while non-institutional investors will get 15 per cent of the allocation in the IPO. Remaining 10 per cent of the net offer shall be reserved for the retail investors.
 

Axis Capital, DAM Capital Advisors (formerly IDFC Securities ) and JM Financial are the book running lead managers of the Ixigo IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Tuesday, June 18 as the tentative date of listing.