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ixigo IPO is a book-built issue of Rs 740.10 crores. The issue is a combination of a fresh issue of 1.29 crore shares aggregating to Rs 120.00 crores and an offer for sale of 6.67 crore shares aggregating to Rs 620.10 crores.
The IPO opens for subscription on June 10, 2024, and closes on June 12, 2024. The price band for the IPO is set at ₹88 to ₹93 per share and the minimum lot size for an application is 161 Shares.
Company Summary
Le Travenues Technology Limited was founded in 2006 and is an online travel agency (OTA) that enables travelers to book train, flight, and bus tickets as well as hotels via its OTA platforms under the brand name “ixigo”.
The company’s list of services includes PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternative route or transportation planning, flight status updates, automated web check-in, bus running status, price and availability alerts, deal discovery, destination content, personalized recommendations, instant fare alerts for flights, AI-based travel planning service and automated customer support.
The various OTA platforms offered by ixigo include:
The ixigo trains and Confirmtkt app: They facilitate the travel planning and booking process by enabling users to search for available train tickets for travel across India.
ixigo-flights mobile app: It allows users to search and book all our travel products and services, including air tickets, train tickets, buses and hotels.
Abhibus app: It allows users to check the amenities offered, compare booking prices, check bus schedules on the desired route, and use other facilities.
The company recently launched ixigo PLAN, an intelligent, AI-based travel planner that helps travelers plan their trips with detailed itineraries and real-time destination information.
As of December 31, 2023, the company had 486 full-time employees, and 4 consultants working under consultancy agreements.
Company Strengths
According to the F&S Report, they are the leading OTA for the ‘next billion users’ with the highest Monthly Active Users for mobile apps across all key OTAs as of September 2023.
The number of transactions booked through their OTA platforms has increased at a CAGR of 139.43% from 8.56 million in Fiscal 2021 to 49.07 million in Fiscal 2023, and to 42.00 million and 36.47 million in the nine months ended December 31, 2023 and December 31, 2022, respectively.
They use artificial intelligence, data science, and machine learning to transform their travel information and crowd-sourced data into business intelligence that enhances their travel offerings and improves their operating efficiency.
The brand presence and loyalty amongst users are evident from the growth in Monthly Active Users, which has increased from 21.59 million in March 2021 to 44.20 million in March 2022, 62.83 million in March 2023, and 77.04 million and 62.01 million in December 2023 and December 2022, respectively.
Company Financials
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 678.71 | 585.93 | 538.47 | 185.07 |
| Revenue | 497.10 | 517.57 | 384.94 | 138.41 |
| Profit After Tax | 65.71 | 23.40 | -21.09 | 7.53 |
| Net Worth | 437.13 | 373.76 | 342.69 | 29.94 |
| Reserves and Surplus | 399.83 | 334.17 | 303.22 | -212.60 |
| Total Borrowing | 43.36 | 0.54 | 2.73 | 14.94 |
Amount in ₹ Crore | ||||
Objectives of the IPO
Our Company proposes to utilize the Net Proceeds towards funding the following objects
- Part-funding working capital requirements of our Company
- Investments in cloud infrastructure and technology
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
Promoters of the company
The Company has nine Directors, of whom five are Independent Directors, including one woman Independent Director, namely, Aloke Bajpai, Rajnish Kumar, Shailesh Lakhani, Frederic Lalonde, Arun Seth, Mahendra Pratap Mall, Rahul Pandit, Rajesh Sawhney, Shuba Rao Mayya.
IPO details
| IPO Date | June 10, 2024 to June 12, 2024 |
| Listing Date | Tuesday, June 18, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹88 to ₹93 per share |
| Lot Size | 161 Shares |
| Total Issue Size | 79,580,900 shares (aggregating up to ₹740.10 Cr) |
| Fresh Issue | 12,903,226 shares (aggregating up to ₹120.00 Cr) |
| Offer for Sale | 66,677,674 shares of ₹1 (aggregating up to ₹620.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 161 | ₹14,973 |
| Retail (Max) | 13 | 2093 | ₹194,649 |
| S-HNI (Min) | 14 | 2,254 | ₹209,622 |
| S-HNI (Max) | 66 | 10,626 | ₹988,218 |
| B-HNI (Min) | 67 | 10,787 | ₹1,003,191 |
Allotment Schedule
| Basis of Allotment | Thursday, June 13, 2024 |
| Initiation of Refunds | Friday, June 14, 2024 |
| The credit of Shares to Demat | Friday, June 14, 2024 |
| Listing Date | Tuesday, June 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 12, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
To check Allotment, click here