Ixigo IPO listing: Shares make robust D-Street debut, list at 48.4% premium to IPO price

Ixigo IPO listing: Shares of Le Travenues Technology, which runs travel aggregator Ixigo, made a robust debut on the stock exchanges on Tuesday, June 18.

The stock listed at ₹138.10, a 48.4% premium to the issue price of ₹93 per share on the NSE, and at ₹135, a 45.1% premium on the BSE.

At 10:30 am, Ixigo shares were trading at ₹148.13, up 7.26%. The total market capitalisation of the company stood at ₹5,760.9 crore.

The ₹740.1 crore IPO, which was open from June 10 to June 12, was subscribed 98.34 times. The non-institutional investors, or NIIs, showed a strong response, with the portion set aside for them being subscribed 110.53 times. The Qualified Institutional Buyers (QIBs) portion was oversubscribed 106.73 times, and the retail investors bid 54.85 times the reserved portion.

The issue, which had set a price band of ₹88-₹93 per share, is a fresh issuance of shares worth ₹120 crore and an offer for sale (OFS) component of 66.68 million shares, aggregating to ₹620 crore.

The selling shareholders in the OFS category include Peak XV Partners Investments V, SAIF Partners India IV, Rajnish Kumar, Aloke Bajpai, Placid Holdings, Micromax Informatics, Madison India Capital HC and Catalyst Trusteeship.

The funds generated from the issue will be utilised to strengthen cloud infrastructure and technology, fund working capital requirements and inorganic growth through acquisitions, and for general corporate purposes.

About Ixigo

Le Travenues Technology, incorporated in 2006, is a travel booking company that operates four online travel agency (OTA) platforms: ixigo (for trains), ixigo (for flights), Confirmtkt, and abhibus.

It provides ticket and hotel booking services to help users plan, book, and manage their holidays and trips by air, rail, buses, and hotels.

In the financial year 2022-23, the company had reported a net profit of ₹23.3 crore as against a net loss of ₹21 crore in the previous fiscal. The revenue from operations stood at ₹501 crore in FY23 as compared to ₹379 crore in FY22.

For the nine months ending December 31, 2023, the company's revenue was ₹491 crore, while the net profit was ₹65.7 crore.

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