Avail Traveltech platform ixigo's IPO subscription from June 10th
Le Travenues Technology,which is the parent company of Gurugram-based traveltech startup ixigo has recently declared about its initial public offering (IPO), that will open for subscription on June 10 and close on June 12.
The anchor bidding of this IPO will start earlier, on June 7. ixigo's online platform helps travelers plan, book, and manage trips across rail, air, buses, and hotels.
The price band for ixigo's IPO has been set at 
88-93 per share. The IPO consists of a fresh issue of equity shares worth 120 crore and an offer for sale (OFS) of 6.66 crore equity shares, valued at 620 crore at the upper price band.
88-93 per share. The IPO consists of a fresh issue of equity shares worth 120 crore and an offer for sale (OFS) of 6.66 crore equity shares, valued at 620 crore at the upper price band.
The total size of the issue is 740 crore. The minimum lot size for the IPO is 161 shares, with further bids to be made in multiples of 161.
740 crore. The minimum lot size for the IPO is 161 shares, with further bids to be made in multiples of 161.
The selling shareholders are Partners India IV, Peak XV Partners Investments V, Micromax Informatics Ltd., Placid Holdings, Catalyst Trusteeship Ltd., Madison India Capital HC, Aloke Bajpai, and Rajnish Kumar. SAIF Partners and Peak XV are the largest shareholders, holding 23.37% and 15.66% stakes, respectively.
The fund which will be collected from this will be used in different phases. 45 crore will be used for working capital requirements, and 26 crore will be invested in technology and data science, including advancements in artificial intelligence, customer engagement, and cloud hosting. Additional funds will support acquisitions and general corporate activities.
45 crore will be used for working capital requirements, and 26 crore will be invested in technology and data science, including advancements in artificial intelligence, customer engagement, and cloud hosting. Additional funds will support acquisitions and general corporate activities.
For the nine months ended December FY24, ixigo's net profit grew by 252.1% to 65.7 crore, while revenue jumped 34.8% to 491 crore. The company filed its preliminary IPO papers with SEBI in February and March and obtained observations from May 14-17. Axis Capital, DAM Capital Advisors, and JM Financial are the book-running lead managers for the issue.
65.7 crore, while revenue jumped 34.8% to 491 crore. The company filed its preliminary IPO papers with SEBI in February and March and obtained observations from May 14-17. Axis Capital, DAM Capital Advisors, and JM Financial are the book-running lead managers for the issue.
In FY23, the company has recorded, a net profit of 23.4 crore, a significant improvement from a loss of 21 crore in the previous year. The company's revenue from operations surged by 32% to 501.3 crore during the same period.
23.4 crore, a significant improvement from a loss of 21 crore in the previous year. The company's revenue from operations surged by 32% to 501.3 crore during the same period.
