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Ixigo IPO subscribed 98.10 times

Published on Jun 12, 2024 17:36

The initial public offer (IPO) of Le Travenues Technology (ixigo) received 4,29,36,38,160 bids for shares as against 4,37,69,494 shares on offer, according to stock exchange data at 17:30 IST on Wednesday (12 June 2024). The issue was subscribed 98.10 times.

The issue opened for bidding on Monday (10 June 2024) and it will close on Wednesday (12 June 2024). The price band of the IPO is fixed at Rs 88 to 93 per share. An investor can bid for a minimum of 161 equity shares and in multiples thereof.

The offer comprises of fresh issue of Rs 120 crore and an offer for sale of 6,66,77,674 equity shares.

Out of the proceeds from the fresh issue, Rs 45 crore will be used to fund the working capital requirements; Rs 25.8 crore towards investment in cloud infrastructure and technology, and the balance to fund inorganic growth through unidentified acquisitions and other strategic initiatives and for general corporate purpose.

Ahead of the IPO, Le Travenues Technology on Friday, 7 June 2024, raised Rs 333.04 crore from anchor investors. The board allotted 3.58 crore shares at Rs 93 each to 23 anchor investors.

Le Travenues Technology was founded in 2006 and is an online travel agency (OTA) that enables travelers to book train, flight, and bus tickets as well as hotels via its OTA platforms under the brand name �ixigo�.

The company`s 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.

The firm reported a net profit of Rs 66.80 crore and net sales of Rs 491.02 crore for the nine months ended on 31 December 2023.

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