Ixigo’s parent company, Le Travenues Technology, an online travel aggregator has priced its initial public offering (IPO) at Rs 88-93 per share. The ixigo IPO will start taking bids on June 10 and close on June 12, with anchor bidding opening on June 7.
Details of the ixigo IPO
Price Band and Issue Size
The total issue size stands at around Rs 720 crore. While the fresh issue comprises shares worth Rs 120 crore, the offer-for-sale involves up to 66.68 million shares amounting to Rs 620 crore at the upper price band.
Selling Shareholders
Among the key selling shareholders in OFS are SAIF Partners India IV, Peak XV Partners Investments V, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Catalyst Trusteeship and Madison India Capital HC. SAIF Partners holds a major stake of about 23.37 percent while Peak XV has about 15.66 percent.
Company Performance
Financial Highlights
The professionally managed tech firm enables travellers to plan their trips across rail, air, buses and hotels besides facilitating bookings as well as managing them. It posted a net profit of Rs 23.4 crore for FY20-21 against a loss of Rs 21.09 crore in FY19-20 while revenue from operations rose by over one-third to Rs 501.3 crore from the same period last year.
Recent Financial Growth
For nine months ended December FY24 (9MFY24), its net profit surged nearly three-fold YoY to Rs 65.7 crore from Rs 18.7 crore while revenue climbed by more than one-third to around Rs 491 crore versus the corresponding period of previous annum.
IPO Details and Market Prospects
Key Managers and Advisors
Axis Capital, DAM Capital Advisors and JM Financial are the book-running lead managers of the ixigo IPO. These entities supervise various activities relating to the IPO including ensuring its smooth running.
Market Outlook
Given its strong financials and strategic position in the travel industry, ixigo is expected to generate investor interest during this IPO. Furthermore, with a focus on using technology to improve travel experiences, it will be able to take advantage of increasing demand for digital travel solutions.
Conclusion
The initial public offering (IPO) of ixigo at price band of Rs 88-93 per share presents an opportunity for investors looking forward to participate in growth story of a leading player in online travel aggregation space. With healthy financial performance backed by clear vision towards future; ixigo poised itself strongly in market. Investors would closely watch subscription opening on June 10th followed by subsequent stock movements.
Key Takeaways
- ixigo IPO Price Band: Rs 88-93 per share
- Total Issue Size: Rs 720 crore
- Key Selling Shareholders: SAIF Partners, Peak XV, Aloke Bajpai, Rajnish Kumar, Micromax Informatics among others
- Financial Performance: Strong growth in net profit and revenue for FY23 & 9MFY24
- IPO Managers: Axis Capital, DAM Capital Advisors, JM Financial
- Stay tuned for more updates on the ixigo IPO and impact it creates across markets!
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