Ixigo (Le Travenues Technology), one of India’s most trusted travel booking platforms, is set to go public with its IPO in 2024. This IPO is crucial for the company to expand its business and show growth. The company was founded in 2007 and Initially, the app offered hotel booking and PNR checking services. After some time, it added additional features such as flight, train, and bus booking. With millions of users, Ixigo has simplified travel planning, making it more accessible to people across India.
Ixigo IPO
The management of Ixigo has mentioned that the company’s operating cash flow is positive, and its profits have been consistently growing. They also stated that Ixigo initially started as a company providing train-related services and has since become the most downloaded travel app in India, largely due to organic traffic.
The company is confident that its upcoming IPO will attract a significant investor base, given its unique position in the travel industry and strong growth potential.
By launching its IPO, Ixigo aims to raise funds to enhance its AI technology, inorganic acquisitions, and customer experience. In an interview on CNBC Awaaz, the company expressed its vision to create the most trusted customer experience through various services.
Keypoints of Ixigo IPO
- Fundraising Goal: Ixigo aims to raise funds.
- AI Technology: Enhance its AI technology.
- Inorganic Acquisitions: Pursue inorganic acquisitions.
- Customer Experience: Improve customer experience.
Ixigo IPO Details
| Event | Date |
|---|---|
| IPO Date | June 10, 2024 to June 12, 2024 |
| Listing Date | June 18, 2024 |
| Face Value (FV) | ₹1 per share |
| Price Band | ₹88 to ₹93 per share |
| Lot Size | 161 Shares |
| Total Issue Size (TIS) | 79,580,900 shares (aggregating up to ₹740.10 Cr) |
| Fresh Issue | 12,903,226 shares (aggregating up to ₹120.00 Cr) |
| Offer for Sale (OFS) | 66,677,674 shares of ₹1 (aggregating up to ₹620.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At (Stock Exchanges) | BSE, NSE |
| Shareholding pre-issue | 374,519,945 |
| Shareholding post-issue | 387,423,171 |
IPO Time Table
| IPO Event | Date |
|---|---|
| IPO Open Date | Monday, June 10, 2024 |
| IPO Close Date | Wednesday, June 12, 2024 |
| Basis of Allotment | Thursday, June 13, 2024 |
| Initiation of Refunds | Friday, June 14, 2024 |
| The credit of Shares to Demat | Friday, June 14, 2024 |
| Listing Date | Tuesday, June 18, 2024 |
Ixigo IPO 2024 Release Date
Ixigo’s IPO is scheduled to open on June 10, 2024.
Ixigo IPO 2024 Listing Date
Ixigo’s IPO is expected to be listed on NSE and BSE on June 18, 2024.
Ixigo IPO Expected Price
Ixigo’s expected listing price is Rs.121 approx. (Assumption based on Grey Market Premium on 08.06.2024)
Ixigo: Strengths and Weaknesses
Strengths:
- The management and promoters are very experienced in the tour and travel industry.
- The company uses AI and technology-driven operations.
- The company has a diversified business model which mitigates many risks.
- It has firmly established brand recall.
Weaknesses:
- A general decrease in the travel industry can have a great impact.
- Indian OTA (Online Travel Agency) businesses are highly competitive.
- The company needs substantial working capital to run this business.
- The dependency on some suppliers and distributors is significantly high.
Ixigo IPO: Subscribe or Not?
The company is showing good profitability and has the potential to become the largest online travel agency in India. If your vision is for the long term, this opportunity may be worth considering. It can also provide you with some initial listing gains, as indicated by the Grey Market Price. However, it’s important to conduct thorough research before subscribing to the IPO. We’ve provided all the necessary details to help you make an informed decision. Ultimately, the choice is yours to make.
FAQs about IXIGO IPO 2024
What is IXIGO?
IXIGO (Le Travenues Technology) is one of India’s most trusted travel booking platforms. It offers services like hotel, flight, train, and bus bookings, simplifying travel planning for millions of users across India.
When was IXIGO founded?
IXIGO was founded in 2007.
What is an IPO?
An IPO (Initial Public Offering) is when a company offers its shares to the public for the first time. This allows the company to raise funds from public investors.
Why is IXIGO launching an IPO?
IXIGO aims to raise funds to enhance its AI technology, pursue inorganic acquisitions, and improve customer experience.
When will IXIGO’s IPO open and close?
Open Date: June 10, 2024
Close Date: June 12, 2024
When will IXIGO be listed on stock exchanges?
IXIGO is expected to be listed on BSE and NSE on June 18, 2024.
What is the price band for IXIGO’s IPO?
The price band for IXIGO’s IPO is ₹88 to ₹93 per share.
What is the face value of IXIGO shares?
The face value of IXIGO shares is ₹1 per share.
What is the lot size for IXIGO’s IPO?
The lot size for IXIGO’s IPO is 161 shares.
What is the total issue size of IXIGO’s IPO?
The total issue size is 79,580,900 shares, aggregating up to ₹740.10 Cr.
What is the fresh issue size for IXIGO’s IPO?
The fresh issue size is 12,903,226 shares, aggregating up to ₹120.00 Cr.
What is the offer for sale (OFS) size for IXIGO’s IPO?
The OFS size is 66,677,674 shares, aggregating up to ₹620.10 Cr.
What type of IPO is IXIGO launching?
IXIGO is launching a Book Built Issue IPO.
What are the important dates for IXIGO’s IPO?
Basis of Allotment: June 13, 2024
Initiation of Refunds: June 14, 2024
Credit of Shares to Demat: June 14, 2024
Listing Date: June 18, 2024
What will be the shareholding pre- and post-issue?
Pre-Issue Shareholding: 374,519,945 shares
Post-Issue Shareholding: 387,423,171 shares
Where can IXIGO’s IPO shares be listed?
The shares of IXIGO’s IPO will be listed on the BSE and NSE.
What did IXIGO express in its interview on CNBC Awaaz?
In the interview, IXIGO expressed its vision to create the most trusted customer experience through various services.
How will the funds raised from the IPO be used?
The funds will be used to enhance AI technology, pursue inorganic acquisitions, and improve customer experience.
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