Le Travenues Technology (ixigo) Unlisted Shares

Ixigo IPO to open on June 10; check price band, lot size, listing date and more

BT MARKET TODAY

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Ixigo's Rs 840 Crore IPO Opens June 10, 2024.

Expert Analysis:

IPO Details:
- The IPO of Le Travenues Technology (Ixigo) opens on June 10, 2024, with shares priced between Rs 88-93 each.
- Investors can apply for a minimum of 161 shares and their multiples thereafter until Wednesday, June 12.
Company Overview: Founded in 2006, Le Travenues Technology operates Ixigo, the leading OTA with 83 million monthly active users. Ixigo offers comprehensive travel booking services.
Offering Structure: The offering includes a fresh issue of Rs 120 crore and an OFS of up to 6,66,77,674 equity shares by its existing shareholders, amounting to little more than Rs 620.10 crore. It aims to raise about Rs 840 crore via the IPO route.
Financial Performance: Ixigo reported a net profit of Rs 65.81 crore and revenue of Rs 497.10 crore for the nine months ending December 31, 2023. For the fiscal year 2022-23, the company's net profit was Rs 23.40 crore, with a revenue of Rs 517.57 crore.
Allocation of IPO Shares: 75% of the net offer is reserved for qualified institutional bidders, 15% for non-institutional investors, and 10% for retail investors.
IPO Management and Listing Details: Axis Capital, DAM Capital Advisors (formerly IDFC Securities), and JM Financial are the lead managers, with Link Intime India as the registrar. Shares will be tentatively listed on both BSE and NSE on June 18th.

Takeaways

Attractive Investment Opportunity:
- Ixigo's IPO offers an attractive investment opportunity due to its substantial user base and strategic fund allocation.
Diversified Services and Financial Management:
- The company's diversified services and sound financial management enhance its appeal in the competitive online travel market.
Promising Growth Potential:
- Investors eyeing growth potential in the online travel sector may find Ixigo's IPO promising.

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