Le Travenues Technology (Ixigo) IPO

About Le Travenues Technology (Ixigo)

Le Travenues Technology Limited, trading as Ixigo, is a pioneering technology firm based in India, dedicated to enhancing the travel planning and booking experience for its users. 

Established to cater predominantly to rail, air, bus, and hotel bookings, Ixigo leverages advanced technologies such as artificial intelligence, machine learning, and data science. These innovations are embedded within their Online Travel Agency (OTA) platforms, which include both websites and mobile applications.

Ixigo's mission is to be the most customer-centric travel company, aiming to provide the ultimate experience for its users through its focus on travel utility and seamless customer service. The company's target demographic includes travellers from Tier II and Tier III cities, whom they reach with localised content and app features designed to address specific travel challenges faced by these populations.

Ixigo was recognised as the leading OTA for the 'next billion users', a testament to its expansive reach and tailored services. In Fiscal 2023, the company was ranked as the second-largest OTA in India based on consolidated revenue from operations. 

Ixigo's suite of apps, which includes ixigo flights, ixigo trains, ConfirmTkt, and AbhiBus, has demonstrated significant user engagement, becoming the preferred choice for train bookings with a market share of about 51% in the OTA rail segment as of March 31, 2023. AbhiBus also stands out as the second largest bus-ticketing OTA in India.

The company has seen robust growth in its operations, with revenues expanding at a compound annual growth rate (CAGR) of 92.29% between Fiscal 2021 and Fiscal 2023. The number of transactions through Ixigo's platforms and the app download rates also reflect its rapid growth, underlining its popularity among travellers.

As of the end of 2023, Ixigo has over 213 million registered users and continues to lead with the highest app engagement among OTAs, with monthly active users peaking at 83 million in September 2023. The firm's innovative approach and commitment to solving travel-related challenges have positioned it as a front-runner in India's travel sector.

Industry Outlook:

1. The Indian online travel market is growing rapidly, projected to increase from ₹2,079 billion in FY 2023 to ₹3,895 billion in FY 2028, at a CAGR of 13%.

2. Rail and air travel have the highest online booking penetration compared to buses and hospitality, reflecting a broader shift towards digital travel services.

3. The Indian Online Travel Agency (OTA) market recovered strongly post-COVID, with revenue rising from ₹749 billion in FY 2020 to ₹1,239 billion in FY 2023, expected to reach ₹2,802 billion by FY 2028.

Ixigo (Le Travenues Technology Limited) IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. Part of the funds will cover the company's working capital needs. 
2. Investments will be made in cloud infrastructure and technology enhancements. 
3. The company will also use funds for pursuing acquisitions and other strategic initiatives, and
4. General corporate purposes

Peer Details

The companies considered by Ixigo (Le Travenues Technology Limited) as its peers include:

1. Easy Trip Planners Limited
2. Yatra Online Limited

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Contact Details of Ixigo 

Registered office: Second Floor, Veritas Building, Sector - 53, Golf Course Road, Gurugram 122 002, Haryana, India

Phone: (+91 124) 668 2111

E-mail: investors@ixigo.com