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  3. IPO of ixigo's parent Le Travenues Technology subscribed 98.10 times

IPO of ixigo's parent Le Travenues Technology subscribed 98.10 times

13 Jun 2024

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Key Takeaways

  • IPO Subscription:

    • Le Travenues Technology's INR 740 crore IPO was subscribed 98.10 times, driven by strong interest from non-institutional investors (110.25 times), QIBs (106.73 times), and retail investors (53.95 times).

  • Offer Details:

    • The IPO included a fresh issue of INR 120 crore and an OFS of 6,66,77,674 shares.

  • Proceeds Allocation:

    • Funds will allocate INR 45 crore for working capital, INR 26 crore for technology investments, and support for acquisitions and general corporate purposes.

  • Financial Highlights:

    • The share price ranged from INR 88-93, with INR 333 crore raised from anchor investors, reflecting high confidence in ixigo's growth.

  • IPO Subscription:

    • Le Travenues Technology's INR 740 crore IPO was subscribed 98.10 times, driven by strong interest from non-institutional investors (110.25 times), QIBs (106.73 times), and retail investors (53.95 times).

  • Offer Details:

    • The IPO included a fresh issue of INR 120 crore and an OFS of 6,66,77,674 shares.

  • Proceeds Allocation:

    • Funds will allocate INR 45 crore for working capital, INR 26 crore for technology investments, and support for acquisitions and general corporate purposes.

  • Financial Highlights:

    • The share price ranged from INR 88-93, with INR 333 crore raised from anchor investors, reflecting high confidence in ixigo's growth.

Le Travenues Technology (ixigo)

Le Travenues Technology (ixigo)

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Expert Analysis

Ixigo's INR 740 Crore IPO subscribed 98.10 Times.

Expert Analysis:

  • IPO Subscription Rate: The IPO of Le Travenues Technology, operator of ixigo, was subscribed 98.10 times on the closing day.

  • Total Bids Received: The INR 740-crore initial share sale received bids for 4,29,36,34,618 shares against 4,37,69,494 shares on offer.

  • Investor Category Subscriptions: Non-institutional investors subscribed 110.25 times, subscription while the port institutional Buyers (QIBs) got subscribed 106.73 times, and Retail Individual Investors (RIIs) Received 53.95 times. Ixigo’s IPO was subscribed 1.95 times in the first day, on Monday.

  • IPO Details: The IPO included a fresh issue of INR 120 crore and an offer for sale (OFS) of 6,66,77,674 Equity shares.

  • Proceeds Allocation: Proceeds Worth INR 45 crore fresh issue will be used for working capital, and INR 26 crore will be utilized for technology and data science, including cloud and server hosting, technology on artificial intelligence and customer engagement.

  • Price Range and Anchor Investors: The offer price range is INR 88-93 per share, and Le Travenues Technology raised INR 333 crore from anchor investors on Friday.

Publisher:The Ecoonomic Times