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ixigo ipo

Le Travenues Technology (Ixigo) IPO

Ixigo has filed its DRHP with SEBI, to raise Rs.1600 crore. The issue consists of a fresh issue worth Rs.750 crore and...

  • Status: Closed
  • RHP:
  • ₹ 14,168 / 161 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    18 Jun 2024

  • Listing Price

    ₹135.00

  • Listing Change

    45.16%

  • Last Traded Price

    ₹150.00

IPO Details

  • Open Date

    10 Jun 2024

  • Close Date

    12 Jun 2024

  • IPO Price Range

    ₹ 88 to ₹ 93

  • IPO Size

    ₹ 740.10 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    18 Jun 2024

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Le Travenues Technology (Ixigo) IPO Subscription Status

Last Updated: 20 June 2024 9:53 AM by 5Paisa

Last Updated: 12th June 2024, 05:20 PM by 5paisa

Le Travenues Technology Limited's (Ixigo) IPO will go live from 10th June to 12th June 2024. The company operates in the Indian travel and tourism industry. The IPO includes a fresh issue of 12,903,226 shares worth ₹120 cr and an Offer-for-Sale (OFS) of 66,677,674 Equity Shares worth ₹620.10 cr. The total IPO size is ₹740.10 cr. The share allotment date is 13th June and the listing date is 18th June. The price band is set at ₹88 to ₹93 and the lot size is 161 shares.     
 
Axis Capital Limited, DAM Capital Advisors Limited, and JM Financial Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.

Objectives of the Ixigo IPO:

●    For working capital requirements
●    To invest in cloud infrastructure and technology
●    Funding inorganic growth through unidentified acquisitions and other strategic initiatives
●    General corporate purposes

Ixigo IPO Video

 

 

Ixigo IPO Size

Types Size (₹Cr)
Total IPO size 740.10
Offer for sale 620.10
Fresh issue 120.00

Ixigo IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 161 ₹14,937
Retail (Max) 13 2093 ₹194,649
S-HNI (Min) 14 2,254 ₹209,622
S-HNI (Max) 66 10,626 ₹988,218
B-HNI (Min) 67 10,787 ₹1,003,191

Ixigo IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 106.73 2,38,74,271 2,54,81,99,486 23,698.26
NII (HNI) 110.25 1,19,37,134 1,31,60,65,359 12,239.41
Retail 53.95 79,58,089 42,93,52,224 3,992.98
Total 98.10 4,37,69,494 4,29,36,17,069 39,930.64

Ixigo IPO Anchor Allocation

Anchor Bid Date 07 June, 2024
Total no. of shares offered 35,811,405
Portion Size for Anchor Investors 333.05 Cr.
Lock in Period for 50% shares (30 days) 13 July, 2024
Lock in Period for rest of shares (90 days) 11 September, 2024

Le Travenues Technology Limited operates in the Indian travel and tourism industry. It allows individuals to plan, book, and manage their travel and trips in terms of rail, air, bus and hotel bookings. In addition to this, the company also allows the usage of travel utility tools and services developed using in-house proprietary algorithms and crowd-sourced information.
 
This includes train PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternate route or mode planning, flight status updates, automated web check-in, bus running status, pricing and availability alerts, deal discovery, destination content, personalised recommendations, instant fare alerts for flights, AI-based travel itinerary planner and automated customer support services.
 
Ixigo had a market share of 46.15% in the OTA rail market as of FY23 which increased to 52.4% in the first half of FY24. As of September 2023, the company enjoyed the highest app usage among OTAs with 83 million Monthly Active Users across its apps.
 
Peer Comparison

●      Easy Trip Planners Limited
●      Yatra Online Limited
 
For More Information:
Webstory on Ixigo IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 501.25 379.58 135.56
EBITDA 6.14 -6.95 45.04
PAT 23.39 -21.09 7.53
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 585.92 538.47 185.07
Share Capital 37.12 36.97 0.04
Total Borrowings 198.80 195.78 155.13
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 30.70 -34.34 -15.18
Net cash from / (used in) investing activities 22.01 -221.63 -10.18
Net cash flow from / (used in) financing activities -2.17 257.88 13.53
Net increase (decrease) in cash and cash equivalents 50.53 1.89 -11.83


Strengths

1.    It is a leading online travel agency with significant penetration in the underserved ‘next billion user’ market segment.
2.    The company has Artificial intelligence and technology-driven operations.
3.    Established consumer travel brands built with a user-first approach.
4.    The company has a diversified business model with significant operating leverage and organic flywheel.
5.    Experienced Promoters and Senior Management.
 

Risks

1.    A general decline or disruptions in the travel industry may impact the business. 
2.    The company’s train ticketing services depend on its agreement with IRCTC.
3.    The Indian OTA industry is highly competitive.
4.    It is dependent on limited suppliers and distributors for a significant portion of revenue from operations.
5.    The company has incurred net losses in the past.
6.    It has significant working capital requirements.
 

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FAQs

Ixigo IPO will open from 10th June to 12th June 2024.

The Ixigo IPO size is ₹740.10 cr.
 

To apply for Ixigo IPO, follow the steps given below:

●      Login to your 5paisa account and select the issue in the current IPO section            
●      Enter the number of lots and the price at which you wish to apply for Ixigo IPO. 
●      Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

You will receive a mandate notification to block funds in your UPI app.
 

The price band for Ixigo IPO is set at ₹88 to ₹93 per share.
 

The minimum lot size and investment required for Ixigo IPO are 161 shares for ₹14,168, respectively. 
 

The share allotment date for Ixigo IPO is 13th June 2024.
 

The listing date for Ixigo IPO is 18th June 2024.

Axis Capital Limited, DAM Capital Advisors Limited, and JM Financial Limited are the book-running lead managers for Ixigo IPO.
 

Ixigo Limited will use the proceeds from the offer for:

●    For working capital requirements
●    To invest in cloud infrastructure and technology
●    Funding inorganic growth through unidentified acquisitions and other strategic initiatives
●    General corporate purposes