Ixigo IPO Price: ₹88 to ₹93 per share
IPO Date Range: 10 June 2024 - 12 June 2024
Established in 2006, Le Travenues Technology Limited is a pioneering online travel agency (OTA). Operating under the brand name "ixigo," it empowers travellers to effortlessly reserve train, flight, and bus tickets, along with accommodations, through its comprehensive OTA platforms.
The company provides a range of travel booking services, including train, flight, and bus tickets and hotel reservations. Their offerings include PNR status and confirmation predictions, train seat availability alerts, real-time train running status updates and delay predictions, alternative route planning, flight status updates, automated web check-in, and bus running status.
Ixigo also offers price and availability alerts, deal discovery, destination content, personalized recommendations, instant flight fare alerts, an AI-based travel planning service, and automated customer support.
Recently, ixigo launched ixigo PLAN, an AI-based travel planner with detailed itineraries and real-time destination information, and a generative AI plugin for conversational interactions. They also introduced ixigo Assured Flex, a service for fully flexible air and rail ticket bookings.
The various OTA platforms provided by ixigo are:
The company boasts a cumulative 83 million monthly active users across its apps, as of September 2023.
Ixigo focuses on empowering Indian travelers through AI, machine learning, and data science innovations. They target the ‘next billion user’ market segment, which includes non-Tier I cities and rural areas, as well as middle and lower-income groups in Tier I cities. According to a F&S Report, in the next five years, 20% of these users will emerge from Tier I cities, 50% from Tier II and III cities, and 30% from rural India.
Ixigo’s vision is to become the most customer-centric travel company by leveraging technology, cost-efficiency, and a culture of innovation to provide an exceptional customer experience. Their platforms enable comprehensive travel bookings while offering a suite of travel utility tools and services developed using proprietary algorithms and crowd-sourced information.
| IPO Date | June 10, 2024 to June 12, 2024 |
| Listing Date | Tuesday, June 18, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹88 to ₹93 per share |
| Lot Size | 161 Shares |
| Total Issue Size | 79,580,900 shares (aggregating up to ₹740.10 Cr) |
| Fresh Issue | 12,903,226 shares (aggregating up to ₹120.00 Cr) |
| Offer For Sale | 66,677,674 shares (aggregating up to ₹620.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 374,519,945 |
| Share holding post issue | 387,423,171 |
Bidders have the opportunity to bid for a minimum of 161 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 161 | ₹14,973 |
| Retail (Max) | 13 | 2,093 | ₹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 |
| QIB Shares Offered | Not more than 75% of the Net offer |
| Retail Shares Offered | Not less than 10% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| IPO Open Date | Monday, June 10, 2024 |
| IPO Close Date | Wednesday, June 12, 2024 |
| Basis of Allotment | Thursday, June 13, 2024 |
| Initiation of Refunds | Friday, June 14, 2024 |
| Credit of Shares to Demat | Friday, June 14, 2024 |
| Listing Date | Tuesday, June 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 12, 2024 |
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Le Travenues Technology Limited saw a significant uptick in revenue, with a 34.46% increase and a remarkable surge of 210.91% in profit after tax (PAT) between the fiscal years ending on March 31, 2023, and March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 31 Dec 2023 |
|---|---|---|---|---|
| Assets | 185.07 | 538.47 | 585.93 | 678.71 |
| Revenue | 138.41 | 384.94 | 517.57 | 497.10 |
| Profit After Tax | 7.53 | -21.09 | 23.40 | 65.71 |
| Net Worth | 29.94 | 342.69 | 373.76 | 437.13 |
| Reserves & Surplus | -212.60 | 303.22 | 334.17 | 399.83 |
| Total Borrowing | 14.94 | 2.73 | 0.54 | 43.36 |
| KPI | Values |
|---|---|
| Market Cap | Rs 3603.04 Cr. |
| EPS | Rs 0.62 |
| P/E (x) | 148.87 |
| RoNW | 15.26% |
The company plans to allocate the Net Proceeds for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. Le Travenues Technology Limited IPO DRHP
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the Ixigo IPO is ₹88 to ₹93 per share.
The Ixigo IPO is expected to be listed on Tuesday, 18 June 2024.
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