Le Travenues Technology, the company behind the online travel booking platform ixigo, is poised to launch its initial public offering (IPO) next week. The IPO will be open for bidding from June 10 to June 12.
On Friday, ixigo announced it had raised ₹333 crore from anchor investors ahead of its public offering.
Key Details of ixigo’s IPO:
- IPO Dates: Opens on June 10, closes on June 12.
- Price Band: Set between ₹88 to ₹93 per share.
- IPO Size: Includes 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 end of the price band.
- Lot Size: Investors can bid on a minimum of 161 shares and multiples thereof, with a minimum investment of ₹14,973 for retail investors.
- IPO Allotment Date: Expected to be finalized on June 13, 2024.
- Listing Date: Shares are scheduled to be listed on the BSE and NSE on June 18, 2024.
- Registrar: Link Intime India Private Ltd.
- Book-Running Lead Managers: Axis Capital Limited, Dam Capital Advisors Ltd, and JM Financial Limited.
Promoters and Shareholders:
- Prominent sellers in the IPO include SAIF Partners India IV Ltd, Peak XV Partners Investments V (formerly SCI Investments V), Micromax Informatics Ltd, Placid Holdings, Catalyst Trusteeship Ltd, Madison India Capital HC, and ixigo co-founders Aloke Bajpai and Rajnish Kumar.
Allocation and Investment:
- Qualified Institutional Buyers (QIBs): 75% of the issue size
- Non-Institutional Investors: 15%
- Retail Investors: 10%
Anchor Investors:
According to a PTI report, notable investors such as Ashoka India Equity Investment Trust Plc, Tata Multi Asset Opportunities Fund, Tata Digital India Fund, Bay Capital Holdings, Steadview Capital Mauritius, and ixigo co-founders Aloke Bajpai and Rajnish Kumar participated in the anchor investment round.
Grey Market Premium (GMP):
As per investorgain.com, ixigo’s IPO shares are available at a premium of ₹23 in the grey market.
About ixigo:
ixigo is a technology-driven online travel agency (OTA) that enables Indian travelers to plan, book, and manage their journeys by train, air, bus, and hotel. It caters primarily to tier II and tier III travelers, leveraging artificial intelligence, machine learning, and data science to offer localized content and features that help users make informed travel decisions.
Summary:
With a robust anchor investor backing and a focus on emerging Indian travelers, ixigo’s IPO presents an intriguing opportunity for investors looking to capitalize on the growing online travel market in India.
