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  1. Home
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  3. ixigo Gets SEBI Nod For IPO

ixigo Gets SEBI Nod For IPO

22 May 2024

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Key Takeaways

  • Strategic IPO Structure:

    • ixigo's IPO entails a fresh issue of INR 120 Cr and an OFS component of 6.66 Cr shares, indicating strategic readiness for public listing.

  • Resource Allocation Strategy:

    • Allocation of INR 45 Cr for working capital and INR 26 Cr for tech advancements underscores the company's focus on operational enhancement objectives.

  • Analyst-Identified Strengths:

    • Analysts highlight ixigo's profitability, focus on railway ticketing, and Tier II market penetration as key strengths, shaping positive investor sentiment towards its IPO.

  • Financial Performance and Market Positioning:

    • Solid FY23 financial performance, with net profit of INR 23.4 Cr and operating revenue of INR 501.2 Cr, positions ixigo favorably amidst the 2024 IPO surge, alongside major players like Swiggy and Ola Electric.

  • Strategic IPO Structure:

    • ixigo's IPO entails a fresh issue of INR 120 Cr and an OFS component of 6.66 Cr shares, indicating strategic readiness for public listing.

  • Resource Allocation Strategy:

    • Allocation of INR 45 Cr for working capital and INR 26 Cr for tech advancements underscores the company's focus on operational enhancement objectives.

  • Analyst-Identified Strengths:

    • Analysts highlight ixigo's profitability, focus on railway ticketing, and Tier II market penetration as key strengths, shaping positive investor sentiment towards its IPO.

  • Financial Performance and Market Positioning:

    • Solid FY23 financial performance, with net profit of INR 23.4 Cr and operating revenue of INR 501.2 Cr, positions ixigo favorably amidst the 2024 IPO surge, alongside major players like Swiggy and Ola Electric.

Le Travenues Technology (ixigo)

Le Travenues Technology (ixigo)

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Expert Analysis

ixigo Secures SEBI Nod for INR 120 Cr IPO, Highlights Strong Financials and Strategic Market Focus.

Expert Analysis:

  • ixigo's IPO Receives SEBI Approval: Le Travenues Technology Ltd (ixigo) received SEBI approval for its IPO on May 14.

  • The IPO includes:

    • Fresh issue of shares worth INR 120 Cr.

    • Offer for sale (OFS) of 6.66 Cr shares.

  • IPO proceeds allocation:

    • startup plans to use INR 45 Cr from the IPO proceeds for its working capital requirements.

    • INR 26 Cr for tech stack enhancement and investments in data science and AI.

  • Financial highlights:

    • FY23 net profit: INR 23.4 Cr (versus a net loss of INR 21.1 Cr in FY22).

    • FY23 operating revenue: INR 501.2 Cr (32% increase from INR 379.6 Cr in FY22).

    • First nine months of FY24: Net profit of INR 65.7 Cr on operating revenue of INR 491 Cr.

  • Upcoming Tech IPOs in 2024: At least 10 tech startups are expected to list in 2024, including Swiggy (INR 8,300 Cr IPO) and Ola Electric (INR 7,250 Cr IPO).

  • Recent IPO Spree in May 2024: This month, three major startups joined the IPO spree:

    • Travel Boutique Online (TBO Tek) debuted at over a 50% premium.

    • Go Digit's mid-May IPO was subscribed 9.6X by May 17.

    • Awfis launched its INR 599 Cr IPO on May 22.

Publisher:inc42