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...
IPO Listing Details
- Listing Date
18 Jun 2024
- Listing Price
₹135.00
- Listing Change
45.16%
- Last Traded Price
₹177.85
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
IPO Timeline
Le Travenues Technology (Ixigo) IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 10-Jun-24 | 0.11 | 2.78 | 6.17 | 1.95 |
| 11-Jun-24 | 0.79 | 20.14 | 18.71 | 9.33 |
| 12-Jun-24 | 106.73 | 110.25 | 53.95 | 98.10 |
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
| 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
Contact Information
Le Travenues Technology (Ixigo)
Le Travenues Technology Limited
Second Floor, Veritas Building,
Sector - 53, Golf Course Road,
Gurugram - 122 002
Phone: +91 124 668 2111
Email: investors@ixigo.com
Website: http://www.ixigo.com/
Le Travenues Technology (Ixigo) IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ixigo.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Le Travenues Technology (Ixigo) IPO Lead Manager
JM Financial Limited
Axis Capital Limited
Dam Capital Advisors Ltd (IDFC Securities Ltd)
