Le Travenues Technology Limited IPO (Ixigo IPO) IPO: An Overview and Company Insight
Le Travenues Technology Limited (Ixigo) was established in 2006 and provides its services as an online travel agency (OTA). Travellers can purchase tickets for buses, trains, hotels, and flights through the online “Ixigo” platform. In recent years, it has expanded its services to a wide variety of digital properties.
Ixigo aims to streamline the online booking process for Indian travellers and is backed by partners like India IV, Peak XV, and Micromax. In addition to providing information on train PNR updates, it also provides running status updates, delay estimations, and deal discovery. The company runs AI-based forecasts that are founded on actual data stacks. They deal in 3 main digital properties which are the Ixigo Trains and ConfirmTKT app, the Ixigo Flights mobile app, and the Abhibus app. To their customers, they represent a solution for travel planning that extends across different time zones, geographies, and types of transport. The company also launched Ixigo Assured Flex which provides low-cost and flexible train or flight booking with no cancellation fees. As of December 31, 2023, the company has 486 full-time employees, and 4 consultants working under different agreements.
Le Travenues Technology Limited (Ixigo) Grey Market Premium
| Date | GMP |
| June 10 | ₹25 |
| June 9 | ₹25 |
Pricing Details and Lot Size – Le Travenues Technology Limited IPO (Ixigo IPO)
The price band for ixigo is ₹88 to ₹93 per share.
Book-running Lead Managers and Registrar – Le Travenues Technology Limited IPO (Ixigo IPO)
Axis Capital Limited, Dam Capital Advisors Limited (Formerly Idfc Securities Limited), and Jm Financial Limited are the Book Running Lead Managers (BRLM) of the ixigo IPO, while
Link Intime India Private Limited is the registrar for the issue.
Offer for Sale and IPO Size Breakdown – Le Travenues Technology Limited IPO (Ixigo IPO)
Valued at Rs 740.10 crores, the Ixigo IPO is a book-built issue which comprises a fresh issue of 1.29 crore shares amounting to Rs 120.00 crores and an offer for sale of 6.67 crore shares amounting to Rs 620.10 crores.
IPO Timelines at a Glance – Le Travenues Technology Limited IPO (Ixigo IPO)
| Event | Date |
| IPO Opening Date | June 10, 2024 |
| IPO Closing Date | June 12, 2024 |
| IPO Allotment Date | June 13, 2024 |
| Initiation of Refunds | June 14, 2024 |
| Credit of Shares to Demat | June 14, 2024 |
| IPO Listing Date | June 18, 2024 |
Utilisation of Fresh Issuance and Technological Advancements – Le Travenues Technology Limited IPO (Ixigo IPO)
The following goals are to be funded by the net proceeds from the issue, according to the company’s proposal:
- Financing a portion of the company’s working capital needs,
- Making investments in cloud computing and infrastructure,
- Financing inorganic expansion through unnamed acquisitions, other strategic projects, and general business objectives.
Conclusion
With the highest app usage among OTAs, reaching a total of 83 million monthly active users, ixigo is making great strides in the online travel planning service. They have expanded their services to a wide variety of digital properties and launched an AI-based travel planner. As of March 31, 2023, they held the largest market share of all OTAs, accounting for about 51% of all rail bookings.
They saw an increase in revenue by 34.46% and a 210.91% rise in profit after tax (PAT) between the financial year ending with March 31, 2023, and March 31, 2022. This indicates improved financial performance and profitability for the company during this period.
As of December 31, 2023, the company had 486 full-time employees, and 4 consultants working under different agreements.
Frequently Asked Questions – Le Travenues Technology Limited (Ixigo)
What does Le Travenues Technology Limited (Ixigo) specialise in?
Le Travenues Technology Limited (Ixigo) was established in 2006 and provides its services as an online travel agency (OTA). Travellers can purchase tickets for buses, trains, hotels, and flights through the online “Ixigo” platform. In recent years, it has expanded its services to a wide variety of digital properties. To their customers, they represent a solution for travel planning that extends across different time zones, geographies, and types of transport.
What is the primary purpose of Le Travenues Technology Limited (Ixigo)’s IPO?
The following goals are to be funded by the net proceeds from the issue, according to the company’s proposal:
- Financing a portion of the company’s working capital needs,
- Making investments in cloud computing and infrastructure,
- Financing inorganic expansion through unnamed acquisitions, other strategic projects, and general business objectives.
Who are the lead managers for Le Travenues Technology Limited (Ixigo)’s IPO?
Axis Capital Limited, Dam Capital Advisors Limited (Formerly Idfc Securities Limited), and Jm Financial Limited are the Book Running Lead Managers (BRLM) of the ixigo IPO, while Link Intime India Private Limited is the registrar for the issue.
How is the IPO structured in terms of new issuance and offer for sale (OFS)?
Valued at Rs 740.10 crores, the Ixigo IPO is a book-built issue which comprises a fresh issue of 1.29 crore shares amounting to Rs 120.00 crores and an offer for sale of 6.67 crore shares amounting to Rs 620.10 crores.
What is the lot size and minimum investment for retail investors in Le Travenues Technology Limited (Ixigo) IPO?
The minimum lot size is 161 shares. Retail investors are required to make a minimum investment of ₹14,973.
What is the price band for Le Travenues Technology Limited (Ixigo)’s IPO?
The price band for ixigo IPO is ₹88 to ₹93 per share.
How has the Grey Market Premium (GMP) trend for Le Travenues Technology Limited (Ixigo)’s IPO?
The last update for ixigo IPO was on June 6, 2024, at 07:00 PM. The GMP is ₹30. The expected listing price of ixigo IPO, with a price band of 93.00, is ₹123 (cap price + today’s GMP). 32.26% is the anticipated percentage gain or loss per share.
When does the IPO open and close for application?
Ixigo IPO will open for subscription on June 10, 2024 and close June 12, 2024.
When is the allotment date for the Le Travenues Technology Limited IPO (Ixigo IPO)?
The allotment date is set for June 13, 2024.
When is Le Travenues Technology Limited (Ixigo) expected to be listed on the stock exchanges?
The equity shares of ixigo IPO are anticipated to be listed on June 18, 2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
