Ixigo Gears Up for Stock Market Debut with Pre-IPO

Ixigo to Debut on Stock Exchanges on June
Preeti Bali / 7:59 am / June 10, 2024

Le Travenues Technology Limited, the company behind the popular travel booking platform Ixigo, is preparing to enter the stock market. The company has announced its upcoming Initial Public Offering (IPO) and a pre-IPO secondary share placement.

Pre-IPO Fundraise Sees Early Backers Exit with High Returns

In a transition to raise capital before the Initial public offering, Ixigo led a pre-Initial public offering optional situation worth Rs 176.2 crore (roughly $21 million) at the top finish of the proposed cost band (Rs 93 for every offer). This position saw early financial backers like SAIF Accomplices, PeakXV, and Micromax leave their property with critical returns.

SAIF Accomplices sold 1,07,52,689 offers for Rs 100 crore (around $12 million) to Ashoka India (White Oak), Goodbye Computerized Asset, and Straight Capital. This means a possible 13X profit from their venture.

PeakXV offloaded 6,989,248 offers for Rs 65 crore (roughly $7.8 million) to Straight Capital and Steadview Holding, getting an expected 8.2X return.

Micromax Restricted likewise left its speculation by offering 12,05,268 offers to Steadview Capital for Rs 11.2 crore (generally $1.3 million), bringing about a possible 10.88X return.

Following this optional situation, SAIF Accomplices will hold a 20.52% stake in Ixigo, while PeakXV and Micromax will hold roughly 13.81% and 5.52% proprietorship, separately. Ixigo’s prime supporters, Aloke Bajpai and Rajnish Kumar, will keep on holding a joined stake of 16.65%.

Ixigo Initial public offering Subtleties and Development Execution

The Ixigo public contribution is planned to open for membership on June tenth and will close on June twelfth. The organization has set a value band of Rs 88 to Rs 93 for every offer. The base speculation sum for retail financial backers is Rs 14,973 (in light of a base part size of 161 offers).

Ixigo has exhibited promising development during the initial nine months of the last financial year (FY24). The organization revealed a working income of Rs 491 crore and a net benefit of Rs 65.7 crore during this period. With an effective Initial public offering, Ixigo is ready to pick up additional speed in the movement booking industry.

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