The ixigo IPO is a book-built issue amounting to Rs 740.10 crores. It consists of a fresh issue of 1.29 crore shares totaling Rs 120.00 crores and an offer for sale of 6.67 crore shares amounting to Rs 620.10 crores.
The subscription period for the ixigo IPO is from June 10, 2024, to June 12, 2024, with the allotment expected to be finalized on June 13, 2024. The shares are set to list on the BSE and NSE, with the tentative listing date scheduled for June 18, 2024.
The price band for the IPO is set at ₹88 to ₹93 per share, and the minimum application lot size is 161 shares. Retail investors need to invest at least ₹14,973, while sNII investors have a minimum investment requirement of 14 lots (2,254 shares) totaling ₹209,622, and bNII investors must invest in a minimum of 67 lots (10,787 shares) amounting to ₹1,003,191.
The IPO’s book-running lead managers are Axis Capital Limited, Dam Capital Advisors Ltd (formerly IDFC Securities Ltd), and JM Financial Limited, with Link Intime India Private Ltd acting as the registrar.
Here are the key details of the ixigo IPO:
– **IPO Dates:** June 10, 2024, to June 12, 2024
– **Listing Date:** June 18, 2024
– **Face Value:** ₹1 per share
– **Price Band:** ₹88 to ₹93 per share
– **Lot Size:** 161 shares
– **Total Issue Size:** 79,580,900 shares (₹740.10 Cr)
– **Fresh Issue Size:** 12,903,226 shares (₹120.00 Cr)
– **Offer for Sale:** 66,677,674 shares (₹620.10 Cr)
– **Issue Type:** Book Built Issue IPO
– **Listing At:** BSE, NSE
– **Pre-Issue Shareholding:** 374,519,945
– **Post-Issue Shareholding:** 387,423,171
The reservation of shares is allocated as follows:
– **QIB Shares:** Not less than 75% of the net offer
– **Retail Shares:** Not more than 10% of the offer
– **NII Shares:** Not more than 15% of the offer
The timeline for the IPO process is as follows:
– **Opening Date:** June 10, 2024
– **Closing Date:** June 12, 2024
– **Basis of Allotment:** June 13, 2024
– **Initiation of Refunds:** June 14, 2024
– **Credit of Shares to Demat Accounts:** June 14, 2024
– **Listing Date:** June 18, 2024
– **Cut-off Time for UPI Mandate Confirmation:** 5 PM on June 12, 2024
The minimum and maximum investment details are as follows:
– **Retail Investors:** Minimum 1 lot (161 shares) ₹14,973; Maximum 13 lots (2,093 shares) ₹194,649
– **sNII Investors:** Minimum 14 lots (2,254 shares) ₹209,622; Maximum 66 lots (10,626 shares) ₹988,218
– **bNII Investors:** Minimum 67 lots (10,787 shares) ₹1,003,191
Le Travenues Technology Limited, operating under the ixigo brand, offers a range of online travel services. Their platforms include ixigo trains and Confirmtkt apps for train bookings, ixigo-flights app for booking flights, trains, buses, and hotels, and the Abhibus app for bus bookings. The company recently launched ixigo PLAN, an AI-based travel planner, and ixigo Assured Flex, a service offering flexible air and rail ticket bookings.
As of December 31, 2023, the company had 486 full-time employees and 4 consultants. Financially, the company saw a revenue increase of 34.46% and a profit after tax (PAT) increase of 210.91% between the fiscal years ending March 31, 2023, and March 31, 2022. The market capitalization of ixigo IPO stands at Rs 3603.04 Cr.
The key performance indicators as of December 31, 2023, include:
– **RoNW:** 15.26%
– **P/BV:** 8.14
– **EPS (Pre IPO):** 0.62
– **EPS (Post IPO):** 2.26
– **P/E (Pre IPO):** 148.87
– **P/E (Post IPO):** 41.12
The proceeds from the IPO will be used for:
1. Part-funding the company’s working capital requirements,
2. Investments in cloud infrastructure and technology,
3. Funding inorganic growth through unidentified acquisitions and other strategic initiatives, and general corporate purposes.
