Ixigo IPO: Key Details and Insights

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The upcoming IPO of Le Travenues Technology Ltd’s ixigo, a popular travel booking platform, is set to open on June 10 with a price band of ₹88 to ₹93 per share. The company has already raised ₹333 crore from anchor investors, indicating strong market interest. The IPO will close on June 12, with a significant portion allocated to different types of investors.

Ixigo is known for its technological solutions that cater to Indian travelers, offering a range of services for train, air, bus, and hotel bookings. The company’s focus on localizing content and providing smart travel recommendations has gained popularity among tier II and tier III travelers.

In preparation for the IPO, existing shareholders have sold equity worth over ₹176 crore in a pre-IPO deal, showcasing confidence in the company’s growth potential. The price band for the IPO has been set at ₹88 to ₹93 per share, with a greymarket premium (GMP) of ₹25 indicating strong demand.

The IPO comprises a new issue of equity shares worth ₹120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares worth ₹620 crore by existing shareholders, totaling a public offering of ₹740 crore. The funds raised will be utilized for working capital, technological investments, and inorganic expansion.

Key metrics from the Red Herring Prospectus (RHP) highlight the company’s strong financial performance, with revenue growing 31% year-on-year and net profit increasing significantly. Additionally, the company’s unique business model and focus on customer experience position it well in the competitive travel industry.

Looking ahead, the Indian travel industry is expected to witness significant growth, presenting opportunities for companies like ixigo to capitalize on the increasing demand for travel services. With a strong market presence and innovative offerings, ixigo’s IPO is set to attract investor attention and potentially pave the way for future expansion and growth prospects.