North India Statesman
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ixigo IPO: Le Travenues Technology, the parent company of online travel platform ixigo, is set to launch an initial public offering (IPO) on June 10. The company has fixed a price band of Rs 88 to Rs 93 per share for the IPO. ixigo's IPO will be open for bidding from June 10 to 12. While for equity investors, the issue will open one business day earlier i.e. on June 7. The company will issue new shares worth Rs 120 crore in its IPO. When about 6.67 crore shares were offered for sale by the existing shareholders and investors of the company. The total value of these shares at the upper price range will be around Rs 620 crore. The total size of the IPO will be Rs 740 crore.
ixigo shareholders who will sell their shares through the offer for sale include Saif Partners India IV, Peak XV Partners Investment V, Alok Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Catalyst Trusteeship and Madison India Capital HC.
SAIF Partners and Peak XV hold 23.37 per cent and 15.66 per cent stake in the company respectively and are the largest shareholders of the company.
ixigo is a technology-driven travel company that focuses on rail, air, bus and hotel bookings and travel planning. The company posted a net profit of Rs 23.4 crore in FY23 as against a loss of Rs 21.09 crore in the previous year. The company's operating profit grew 32 per cent to Rs 501.3 crore in FY23.
While the net profit of ixigo grew by 252.1 percent to Rs 65.7 crore in the first nine months of FY 2024 from Rs 18.7 crore in the same period of the previous financial year. While the company's income has increased by 34.8 percent to Rs 491 crore in the first 9 months of FY 2024.
Axis Capital, DAM Capital Advisors and JM Financial are the book running lead managers to the issue.
