Ixigo (Le Travenues Technology Pvt Ltd) was founded in 2007 by Aloke Bajpai and Rajnish Kumar, who are known for their innovative ideas and out-of-the-box thinking. Many others followed them along the way, and ixigo now has a solid base. Ixigo IPO will hit market in February 2022.
Table of Contents
About
They are a digital company dedicated to assisting Indian travellers in planning, booking, and managing their journeys through train, air, buses, and hotels.
They use artificial intelligence, machine learning, and data science-driven technologies across their OTA platforms, which include their websites and mobile apps, to help passengers make better travel decisions.
Their goal is to become the most customer-centric travel company by providing the finest possible service to their customers.
Their approach on travel utility and client experience for the next billion user group is powered by technology, cost-efficiency, and their culture of innovation, making them India’s top travel ecosystem.
Services
Their OTA systems enable travellers to book train tickets, flight tickets, bus tickets, hotels, and cabs.
While They also offering travel utility products and technologies based on in-house specialised algorithms and crowd-sourced data, such as train PNR status and confirmation forecasts, train seat availability notifications, train running status notifications and delay forecasts, flight status notifications, bus ETA forecasts, and more.
Their team is made up of techies, product people, content curators, marketing gurus, and innovative designers who are all passionate about what they do. You may wonder what ties us together.
Operation
With a specialization on localised content and app features that strive to solve travel challenges, they are the premier travel ecosystem for the “next billion users.”
In contexts of rail bookings between the OTAs and B2C distributors of IRCTC, they are the biggest Indian OTA in the online train bookings section, and their train-centric mobile applications, ixigo trains and ConfirmTkt, were jointly the renowned B2C distribution systems for IRCTC with 42 percent market share.
With a 10% market share in digital bus ticket bookings, their bus-focused app, AbhiBus, was India ‘s second biggest bus-ticketing OTA. With a market share of 12% in online air reservations, they are also India’s third biggest flight OTA.
Competitors
Ixigo, which competes with Yatra, easymytrip and Booking.com, assists consumers in planning, booking, and tracking journeys, as well as providing real-time pricing and availability for airlines, trains, buses, cabs, hotels, and destinations.
However, International travel will continue to be difficult for some time due to varying regulations in host nations, but after active vaccination drives around the world, one can expect a rebound in the fourth quarter of 2021.
Ixigo IPO
Le Travenues Technology Limited (Ixigo), headquartered in Kolkata has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 1600 Crore on 12 August 2021.
The Offer includes 750 Crore value fresh equity shares and There is an offer for sell(OFS) of 850 value equity shares by the principal shareholders mentioned in the DRHP.
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Financials Trends
| Particulars | For the year/period ended ( in Cr.) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 181.34 | 70.13 | 60.38 | ||
| Total Revenue | 138.41 | 112.96 | 42.65 | ||
| Profit After Tax | 2.71 | (26.61) | (57.35) | ||
Basic and Diluted Earnings Per Share
| Financial Period | Basic EPS (in INR) | Diluted EPS (in INR) | Weight |
| Financial Year 2021 | 0.74 | 0.74 | 3 |
| Financial Year 2020 | (1.84) | (1.84) | 2 |
| Financial Year 2019 | (1.98) | (1.98) | 1 |
| Weighted Average | (0.51) | (0.51) |
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Basis of the offer
The following are some of the basic parameters that contribute into determining the Offer Price:
- Market leader with a strong presence in the underserved “next billion user” category.
- Artificial intelligence (AI) and technology-driven business
- With a user-first strategy, a powerful retail travel brand has been created.
- Unit economics are strong, thanks to significant operational leverage and an organic flywheel.
- Management personnel with deep expertise and a lean organisational structure.
Ixigo IPO Peer Comparison
There are no publicly traded businesses in India that operate in a similar industry to theirs. As a result, providing an industry comparison in respect to their Company is not feasible.
Ixigo IPO Details
| IPO Opening Date | February 2022 |
| IPO Closing Date | February 2022 |
| Issue Type | Book Built |
| Face Value | 1 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | – |
| Min Order Quantity | – |
| Listing At | BSE, NSE |
| Issue Size | 1600 Crore |
| Fresh Issue | 750 Crore |
| Offer for Sale | 850 Crore |
Ixigo IPO Date
Ixigo IPO opening date is February 2022, and the closing date is February 2022. The issue may list in February 2022.
| IPO Opening Date | February 2022 |
| IPO Closing Date | February 2022 |
| Basis of Allotment Date | February 2022 |
| Initiation of Refunds | February 2022 |
| Credit of Shares to Demat Account | February 2022 |
| IPO Listing Date | February 2022 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 75 |
Roughly
equivalent
|
| Non Institutional Investor | 15 |
Roughly
equivalent
|
| Retail | 10 | Minimum level of 1 lot, based on availability, for every shareholder. |
Ixigo IPO Allotment Status
Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.
Here, you can find the Allotment Status of Ixigo IPO .
Ixigo IPO GMP
Ixigo IPO Grey Market Premium is 0.
| Date | GMP (in Rs) | Subject to Sauda | Kostak (in Rs) |
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 | |||
| February 2022 |
Ixigo IPO Review
Ixigo IPO review will depend on the price band. Whenever it will be announced we will update you regarding review of this IPO is good or bad.
Ixigo IPO Risk
- The COVID-19 epidemic has had and will continue to have a significant negative impact on the tourism sector and their company.
- A widespread decrease or interruption in the travel sector might have a significant and negative impact on their operations.
- Processing, storing, using, and disclosing personal data puts them at risk of internal or external security breaches, which might result in liability.
- They have a history of net losses, and they expect their costs to rise in the future. Any future losses might have a negative impact on their business.
- Their attempts to recruit customers through sales and marketing may be unproductive, or they may not reach the Customer Acquisition Cost they expect.
Other Threats
- They are subject to privacy rules, and complying with these regulations might be time-consuming and costly.
- This Draft Red Herring Prospectus’ Proforma Unaudited Financial Details is not representative of their future financial situation.
- Inability to adequately manage their development and expansion might have a significant negative impact on their company.
- their Company and its subsidiaries are the subject of ongoing legal actions. Any negative result might have a negative influence on their reputation.
- Changes in Internet search engine algorithms may have a detrimental impact on them.
- In their audited accounting records, their Statutory Auditors have included an attention of issue.
Ixigo IPO Brokerage views
- Yes Securities : Not Updated
- Choice Brokering: Not Updated
- Axis Securities: Not Updated
- IIFL Securities: Not Updated
- Trade swift: Not Updated
- Anand Rathi : Not Updated
- ICICI Securities: Not Updated
Ixigo IPO Subscription Status
| Date | Day | QIB | NII | Retail | Employees | Total Subscription |
| February 2022 | 1 | |||||
| February 2022 | 2 | |||||
| February 2022 | 3 |
Principal Shareholders
- SAIF Partners
- SCI Investments
Principal Shareholders’ Holding
| Pre Issue Share Holding | 39.99 % |
| Post Issue Share Holding |
Ixigo IPO Prospectus
Contact Details
Le Travenues Technology Limited
2nd floor, Veritas Building, Sector 53, Golf Course Road,
Gurugram 122 002, Haryana, India
Tel: (+91 124) 668 2111
E-mail: [email protected]
Website: www.ixigo.com
Registrar
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg Vikhroli (West)
Mumbai 400 083
Maharashtra, India
Tel: (+ 91 22) 4918 6200
E-mail: [email protected]
Website: www.linkintime.co.in
Lead Manager(s)
- ICICI Securities Limited
- Axis Capital Limited
- Kotak Mahindra Capital Company Limited
- Nomura Financial Advisory and Securities (India) Private Limited
We hope we are able to answer all your questions about Ixigo IPO. If you don’t have a Demat account, open it now with Zerodha best trading app.
Disclaimer
The reference of IPO Grey Market Premium (IPO GMP) is only valid for the date specified in the header.
On the IPO Grey Market, we do not purchase or sell IPO forms.
The Kostak Rate is the profit earned by selling an IPO application (in an off-market transaction) to somebody else before the issue is allotted or listed.
Do not subscribe to an IPO based solely on the premium price, as it may alter at any time before to the listing. Only consider the fundamentals of the companies when subscribing.
The GMP rates for IPOs are based on market intelligence. Please keep in mind that these IPO GMP rates may vary by geography and market.
Note:
We do not engage in grey market trading or facilitate the purchase or sale of IPO forms.
What is grey Market?
The phrase “grey market” refers to an illegal over-the-counter market where IPO applications and IPO stock are traded before the entity is listed on a stock exchange. This is a technique for dealers to help consumers who wish to sell their home before it goes on the market.
This is also a way to increase the listing fee and provide help for the issue prior to the listing. In the IPO grey market, there are two types of transactions that take place:
- IPO stocks are traded at a premium in the grey market.
- At a kostak, an IPO application is traded.
What is grey Market Premium?
The Grey Market Premium, or GMP, is the price at which IPO stock shares are exchanged in the grey market.
This could be correct or incorrect, implying that the grey market trading price is greater or cheaper than the issue price, depending on demand and supply for the stocks.
Typically, individuals who do not want to incur the risk of their shares not being allocated through an IPO can purchase shares on the grey market in the hopes of flipping them on the IPO for a profit.
What is Kostak?
The additional amount in rupees at which IPO applications are sold in the IPO Grey Market is known as kostak (or price of application). The bonus of a maximum lot retail application in an IPO is generally described as the ‘Kostak’ value.
The Kostak price is significant primarily before the offer is closed for subscription and the ultimate bidding status is made accessible to IPO participants. After the final auction status is known to investors, only a small percentage of IPO applications are exchanged.
‘Kostak’ is made for those who do not want to incur a risk on an IPO or gain from a listing.
Example:
Ixigo IPO
Issue Price: Rs 306 Per Equity Share (Maximum Bid price)
Lot Size: 45
Grey Market Premium: Rs 220 to Rs 230
Kostak (Rs 13770): Rs 680 to Rs 720
This means Ixigo IPO of Rs 13770 are being traded in IPO Grey Market at Rs 680 to Rs 720.
Despite the fact that this IPO’s Grey Market Premium is roughly 75% of the issue price, the ‘Kostak’ is just 5% of the application value.
Kostak rate
The Kostak rate is the fee received by an investor who sells his or her IPO application on the grey market. Regardless of allotment status, this is the money an individual stands to gain.
Subject to Sauda
The money that an investor stands to gain by selling his or her application for firm allotment is referred to as the subject to Sauda. Firm allocation is the important operative phrase here. The sauda will be cancelled if the applicant is not allotted.
When selling an IPO application in the grey market, the client and seller agree that the sale will only be legal if the seller receives the allocation. The deal is avoided if the seller does not get any stocks throughout the IPO procedure.
FAQ
Ixigo IPO Opening Date?
Ixigo IPO will open in February 2022.
Ixigo IPO Listing Date?
Ixigo IPO will list in February 2022.
Ixigo IPO GMP Today?
Ixigo IPO Grey Market Premium is INR 0.
Ixigo IPO Allotment Date?
Ixigo IPO basis of allotment will be in February 2022.
Lot size for Ixigo IPO?
Lot size for IPO is 0 to 0.
