Ixigo IPO will open on June 10, shares priced Rs 88-93
Earlier in May, ixigo had received a nod from the Securities and Exchange Board of India (SEBI) to raise funds through an IPO.
The initial public offering (IPO) of Le Travenues Technology, which operates the online travel aggregator ixigo, will open for bids on June 10. The company has priced its share in the range of Rs 88 to Rs 93.
Ixigo is planning to raise Rs 740 crore through this IPO, which will be through a combination of an offer for sale and a fresh issue of shares.
The total offer size comprises a fresh issue of equity shares worth Rs 120 crore and an offer for sale (OFS) of 6.6 crore equity shares amounting to Rs 620 crore.
The IPO will be open for bidding on June 10 and close on June 12.
The offer for sale will see the tendering of shares by the founders and other key investors, including Saif Partners, Peak XV Partners, Micromax Informatics, Placid Holdings, and Madison India Opportunities Trust Fund.
Saif Partners India Ltd and Peak XV Partners are the largest shareholders in ixigo, holding 23.37% and 15.66% stake, respectively.
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo provides various travel-related services across categories for air, rail, buses, and hotels. It reported a net profit of Rs 23.4 crore for FY23 against a loss of Rs 21.09 crore for FY22. The revenue in FY23 touched Rs 501.3 crore recording an annual growth of 32% compared to FY22.
The net profit for the nine months ending December of FY24, ixigo touched Rs 65.7 crore as against Rs 18.7 crore in the corresponding period of the previous fiscal. The revenue during this period touched Rs 491 crore recording a year-on-year growth of 34.8%.
Edited by Suman Singh