Le Travenues Technology (ixigo) Unlisted Shares
Ixigo IPO Opens For Subscription: Check Price Band, GMP, Other Details; Should You Buy?
News18
2 min read
Ixigo's IPO Debut: Market Dominance, Premium Pricing, and Strategic Investments Fuel Investor Anticipation.
Expert Analysis:
IPO Subscription Details: Le Travenues Technology Ltd's IPO for Ixigo opened on June 10 and will conclude on June 12. Ixigo, a leading travel booking platform, caters to Indian travelers for rail, air, bus, and hotel bookings.
Market Dominance and Trading Trends: With a dominant 51% market share in OTA rail bookings, Ixigo's shares trade at a Rs 23 premium in the unlisted market, hinting at strong investor interest.
Pricing and Potential Listing Gain: The issue price ranges from Rs 88-93 per share, with a minimum bid of 161 shares, potentially yielding a 25% listing gain if current trends persist.
Ixigo IPO Allotment and Listing Details: Ixigo's IPO allotment expected for June 13 with a listing date of June 18, featuring a lot size of 161 shares and a minimum retail investment of Rs 14,973.
IPO Size Breakdown: Ixigo's IPO, at the upper end of the price band, totals Rs 740.10 crore, comprising a fresh issue of 1.29 crore equity shares worth Rs 120 crore and an offer for sale (OFS) of 6.67 crore shares valued at Rs 620.10 crore.
Anchor Investor Investment and IPO Structure: Prior to its IPO opening, Le Travenues Technology Ltd secured Rs 333 crore from anchor investors. Axis Capital, Dam Capital Advisors Ltd, and JM Financial lead the IPO, with Link Intime India Private Ltd as IPO registrar.
Ixigo IPO: Today's Grey Market Premium: Today's Ixigo IPO Grey Market Premium (GMP) stands at Rs 23 per share, indicating a trading price of Rs 116 apiece, marking a 24.73% premium over the issue price of Rs 93 per share.
Financial Growth Metrics:
During the FY21-23 period, the company experienced a Compound Annual Growth Rate (CAGR) of 92.3%, 194.9%, and 76.2% for it's Revenue, EBITDA, and PAT respectively.
Timing and Potential Gains:
Ixigo's IPO, expected to allot shares on June 13 and list on June 18, promises lucrative gains.
Investor Action:
Investors should act promptly to capitalize on the anticipated listing boost and strategic utilization of funds.
Strategic Alignment:
Aligning with Ixigo's trajectory towards sustained leadership and innovation in travel technology is advisable.
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