Monday, 17 June 2024, Bengaluru, India
Ixigo is a travel booking platform offering startup under Le Travenues Technology that previously closed its pre-IPO secondary round at $21 million. The startup is predicted to make its debut on the stock market exchange with Rs 93 per share. The startup will enter exchanges on June 18th and is predicted to debut at a 30 percent premium from its issue price of Rs 93 each.
MoneyControl mentioned that the firm’s shares reached a premium of Rs 30 in the unlisted market before its debut, highlighting the 30 percent premium over the issue price. After analyzing the current market trend, the listing price for this travel startup’s IPO is predicted to be around Rs 120 to Rs 125 per share, which is 32 percent higher than the issue price. Ahead of the IPO, the startup secured Rs 333 crore from 23 anchor investors including the Government of Singapore, SBI Magnum Children’s Benefit Fund, Bajaj Allianz Life Insurance, and Tata Investment Corporation Limited.
This travel startup is looking to raise around Rs 740 crore with an issue price of Rs 88 to 93. Ixigo offers a travel website to help users book and compare flights, trains, hotel bookings, holiday packages, and bus tickets. The company got approval from the market regular SEBI to launch its public issue last month. The firm had growth in this fiscal year with an operational revenue of Rs 491 crore and a sizable profit of Rs 65.7 crore.
Ixigo also reported that its PAT increased by three times to Rs 65.7 crore in FY24 from 23.3 crore in FY23. The travel tech Gurgugram-based startup focuses on becoming the most customer-centric OTA startup and empowers Indian travelers with the best plans and options for their vacations.
Conclusion
Le Travenues Technology is the parent company of this travel tech startup, Ixigo. Ixigo provides a seamless and fast experience to its users by booking hotels, comparing and predicting flight delays, and providing flexible flight bookings. This startup previously closed its pre-IPO secondary round at $21 million. The startup is expected to make its debut on the stock market exchange with Rs 93 per share. The startup will enter exchanges on June 18th and is predicted to debut at a 30 percent premium from its issue price of Rs 93 each. The shares of Ixigo reached a premium of Rs 30 in the unlisted market before its debut, increasing its chance to get the 30 percent premium over the issue price. After analyzing the current market trend, the listing price for this travel startup’s IPO is predicted to be around Rs 120 to Rs 125 per share, which is 32 percent higher than the issue price. This startup aims to become a customer-centric OTA startup that empowers its travelers with better plans and choices for their travel. The company got approval from the market regular SEBI to launch its public issue last month. Ixigo offers a travel website to help users book and compare flights, trains, hotel bookings, and offer holiday packages
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