Travel portal ixigo's parent firm files draft papers for IPO

ixigo's Parent Company Le Travenues Files IPO Papers, Aims to Raise Funds for Strategic Initiatives

Expert Analysis:

• IPO Intent: Iixigo's parent company, Le Travenues, files with Sebi for an IPO, seeking funds for strategic initiatives.

• Funding Structure: IPO to consist of a fresh issue (Rs 120 crore) and an Offer For Sale (6.66 crore equity shares).

• Utilization Plan: Allocation includes Rs 45 crore for working capital, Rs 26 crore for tech and data science, and support for inorganic growth.

• Book Running Lead Managers: Axis Capital, DAM Capital Advisors, and JM Financial lead the public issue.