Ixigo’s initial public offering (IPO) will begin subscriptions on Monday (10 June, 2024), and will close on Wednesday (12 June, 2024). The shares of the company are going to be listed on both BSE and NSE.
Le Travenues Technology is the operator of the travel tech platform Ixigo and the price range of IPO is set at Rs. 88 to Rs. 93 per share, aiming to raise Rs. 740 crores through this offering.
The lead managers for the Ixigo IPO are Axis Capital, DAM Capital Advisors (formerly IDFC Securities), and JM Financial, with Link Intime India serving as the registrar.
Ixigo is a travel tech company that helps Indian travelers plan, book, and manage trips for trains, flights, buses, and hotels.
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By using artificial intelligence, machine learning, and data science, Ixigo enables travelers to make smarter travel decisions on its online platforms.
In 2013, Ixigo launched the Ixigo Trains app for Android, aiming to enhance the experience of Indian train travelers.
This app allows users to search for train-related information and offers utility services, such as PNR status updates, to assist them in making informed travel decisions.
The IPO features a fresh equity sale of Rs. 120 crore and an offer for sale (OFS) of up to 6.66 crore shares worth Rs. 620 crore.
The net proceeds from the public offering will be used to fund working capital needs, invest in technology, support acquisitions, and other strategic initiatives, and cover general corporate expenses.
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Ixigo IPO will be conducted through the book-building process, with up to 75% of the net issue allocated to qualified institutional buyers, 15% to non-institutional investors, and at least 10% to retail investors, all on a proportionate basis.
The minimum lot size for retail investors is set at 161 shares, requiring a minimum investment of Rs. 14,973 to participate in the Ixigo IPO. For Non-Institutional Investors (NII), the minimum lot size is 14 lots (2,254 shares), totaling Rs. 2,09,622.
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Disclaimer: The above content is for informational purposes only. Please consult a SEBI-registered investment advisor before making any investment decision.
