• Source:PTI
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Ixigo IPO: Le Travenues Technology Ltd., which operates the travel booking platform ixigo, plans to raise Rs 740 crore through its initial share sale, which opens for public subscription on June 10th. The issue, which has a price range of Rs 88 to Rs 93 per share, will close on June 12th, and bids from anchor investors will open for a single day on June 7th, the company announced. The Gurugram-based company's initial public offering (IPO) is a combination of a fresh issue of equity shares worth Rs 120 crore and an offer for sale (OFS) of 6.66 crore equity shares worth Rs 620 crore at the upper end of the price range by existing shareholders.

This implies that the public issue is worth Rs 740 crore. Saif Partners India IV Ltd., Peak XV Partners Investments V (formerly known as SCI Investments V), Micromax Informatics Ltd., Placid Holdings, Catalyst Trusteeship Ltd., Madison India Capital HC, Aloke Bajpai, and Rajnish Kumar will sell shares under the OFS.

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Rs 45 crore raised from the fresh issue will be used to fund the company's working capital requirements, while Rs 26 crore will be used to invest in technology as well as data science, including cloud and server hosting, technology on artificial intelligence, and customer engagement. The funds will also be used to support inorganic growth through acquisitions and for general corporate purposes.

The company said 75% of the issue size has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors, and the remaining 10% for retail investors. Investors can bid in a minimum lot size of 161 shares and multiples thereof.

Launched in 2007 by Alok Bajpai and Rajnish Kumar, Le Travenues Technology is the country's leading online travel aggregator. The company helps travelers plan, book, and manage their travel across rail, air, bus, and hotels. The company's total income in the financial year ended March 2023 increased to Rs 517 crore from Rs 385 crore in the previous fiscal. The firm reported a profit of Rs 23.4 crore for the year ended March 2023, while it had incurred a loss of Rs 21 crore in the previous financial year. Axis Capital, DAM Capital Advisors, and JM Financial are the book-running lead managers to the public issue.

 (With PTI's Input)

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