Le Travenues Technology (ixigo) Unlisted Shares

Ixigo Prepares For Fresh IPO

Phocus wire

2 min read

Ixigo's parent company, Le Travenues Technologies, is renewing its IPO pursuit, aiming for $14 million with a fresh issue of shares & OFS of 67 million equity shares amid robust revenue growth and strategic confidence.

Expert Analysis:

IPO Renewal: Le Travenues Technologies, parent of Ixigo, renews IPO pursuit, targeting $14 million.
Confidence Signal: Filing a Draft Red Herring Prospectus (DRHP) signifies renewed confidence after the mid-2021 attempt.
Revenue Growth: Ixigo reports robust revenue growth, reaching $60 million in 2023 from $46 million in 2022.
Profitability: Profit for the first nine months ending December 31 stands at approximately $8 million.
Strategic Adaptation: Strategic acquisitions (Confirmtkt, Abhibus) and a $53 million fundraising event in 2021 showcase Ixigo's growth strategy.

Takeaways

Dynamic Adaptation:
- Ixigo adapts to the evolving travel tech landscape, pursuing $14 million for working capital, technology, and potential acquisitions.
Resilient Revenue:
- Revenue growth to $60 million in 2023 highlights business resilience.
Renewed IPO Confidence:
- Post-2021 attempt, renewed IPO reflects strategic confidence aligning with dynamic demands in the travel industry.

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