Ixigo’s Parent Company Le Travenues Tech Set For Public Debut, IPO Details Revealed

Le Travenues Technology Ltd, which owns the renowned online travel aggregator Ixigo, is gearing up for its highly awaited public debut on Monday.

The company has disclosed a price band of Rs 88-93 per share for its IPO, marking a significant milestone in its journey towards the public market.

Ixigo’s IPO Excites Investors

Investors keen on participating in this offering have until 12 June to submit their applications.

Ixigo’s IPO boasts a lot size of 161 shares, requiring a minimum investment of Rs 14,973 for retail investors looking to participate.

In preparation for its IPO, Le Travenues Technology Ltd has already secured over Rs 333 crore from 23 anchor investors, at a price of Rs 93 per equity share.

The total issue size of the IPO stands at Rs 740 crore, with a fresh issue component of Rs 120 crore and an offer for sale (OFS) worth Rs 620 crore.

The allocation breakdown for the IPO includes 75 percent reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional buyers, and the remaining 10 per cent for retail investors.

After the closure of the IPO, the company has scheduled the allotment process for June 13, and expects to process refunds and share credits by June 14.

Investors eagerly anticipate the listing of shares on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 18 June.

Ixigo, renowned for catering to travelers from tier II and tier III cities, operates both a user-friendly website and a mobile application.

Meanwhile, in the financial year 2023-24, the company reported impressive revenue figures of Rs 491 crore in the first nine months, up to 31 December.

Notably, during this period, the company achieved a profit of Rs 66 crore, showcasing its robust financial performance and market potential.

With its IPO on the horizon, Le Travenues Technology Ltd is poised to embark on a new chapter, offering investors an opportunity to participate in the growth story of one of India’s leading online travel platforms.

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