Ixigo IPO: aims to raise ₹740 crore, price band set at ₹88-93 per share, check issue details here

Ixigo, operated by Le Travenues Technology, is scheduled to be open for bids from 10 June 2024 to 12 June 2024. The price band for the IPO is set at ₹88 to ₹93 per equity share. Ixigo plans to raise ₹740 crore through this IPO.

The IPO will have an issue of fresh equity shares worth ₹120 crore. The offer for sale (OFS) of up to 6.66 crore shares for sale is also scheduled. Stakeholders like SAIF Partners, Peak XV Partners, and prominent individuals like Aloke Bajpai and Rajnish Kumar will be offloading a few portions of their holdings with the company.

The funds raised through this IPO will be used for various initiatives laid by the company. Ixigo aims to utilise the capital to meet working capital requirements, enhance the platform by investing in technological advancements, and develop growth opportunities through strategic acquisitions and partnerships. Apart from this, a portion of the capital will also be used for general corporate purposes.

The IPO will be conducted with a predefined allocation for different investor categories. Qualified institutional buyers (QIBs) will have access to up to 75% of the net issue size, while non-institutional investors (NIIs) will be allocated 15% of the issue. Retail investors, a primary segment for any IPO, will have a minimum assured allocation of 10% of the net issue.

The minimum investment amount for retail investors is ₹14,973 with a minimum lot size of 161 shares. On the other hand, NII investors will have a minimum investment threshold of ₹2,09,622 for a minimum lot size of 2254 shares.

About Ixigo:

Ixigo empowers Indian travellers to plan, book, and manage their trips across rail, air, buses, and hotels. The company’s annual active users was 429.38 million, with 49.07 million transactions booked through its OTA platforms in FY23, as of March 31, 2023. The OTA platforms facilitated 42 million transactions during the nine months ending December 31, 2023.