IXIGO IPO to Hit Streets On June 10

Founded in 2006, Le Travenues Technology Limited operates as an online travel agency (OTA) under the brand name ixigo. This platform allows travelers to book train, flight, and bus tickets, as well as hotels. Ixigo offers a comprehensive range of services including PNR status checks and confirmation predictions, alerts for train seat availability, updates on train running status and delays, alternative route and transportation planning, flight status updates, automated web check-in, bus running status, and price and availability alerts. 

About the issue

The IXIGO IPO is a book-built issue amounting to Rs 740.10 crores. It comprises a fresh issue of 1.29 crore shares totaling Rs 120.00 crores and an offer for sale of 6.67 crore shares totaling Rs 620.10 crores.

The IXIGO IPO opens for subscription on June 10, 2024, and it closes on June 12, 2024. The allotment is expected to be finalized on Thursday, June 13, 2024. The ixigo IPO will be listed on the exchanges, with a tentative listing date set for Tuesday, June 18, 2024. 

10% of the total issue is reserved for retail shareholders.

FinFinancial Performance

Objectives of the Issue

IXIGO plans to allocate funds to partially cover its working capital needs, invest in cloud infrastructure and technology, and support inorganic growth through potential acquisitions, other strategic initiatives, and general corporate purposes.

Conclusion

The IXIGO IPO, valued at Rs 740.10 crores, will assist the company address working capital needs, invest in cloud infrastructure and technology, and support inorganic growth through acquisitions and other strategic initiatives. The subscription runs from June 10-12, 2024, with allotment on June 13 and listing on June 18, 2024.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.