Le Travenues Technology Limited IPO Subscribed 0.77x on Day 1

The online travel agency (OTA) Le Travenues Technology Limited IPO (ixigo IPO) opened for subscription on June 10, 2024, and will close on June 12, 2024. The ixigo IPO is a book-built issue of ₹740.10 crore. The issue combines a fresh issue of 1.29 crore shares aggregating to ₹120.00 crore and an offer for sale of 6.67 crore shares aggregating to ₹620.10 crores.

Ixigo IPO price band is set at ₹88 to ₹93 per share. The minimum lot size for an application is 161 Shares. The minimum amount of investment required by retail investors is ₹14,973. The minimum lot size investment for sNII is 14 lots (2,254 shares), amounting to ₹2,09,622, and for bNII, it is 67 lots (10,787 shares), amounting to ₹10,03,191.

Day Wise Subscription

On the 1st day of subscription, i.e., June 10, 2024, the IPO was subscribed 0.77x. QIBs subscribed 0.01x, NIIs 1.01x, and retail investors subscribed 2.70x.

Grey Market Premium

Ixigo IPO’s last GMP is ₹26. With a price band of ₹93.00, ixigo IPO’s estimated listing price is ₹119 (cap price + today’s GMP). The expected percentage gain/loss per share is 27.96%.

Overview Le Travenues Technology Limited (ixigo)

Established in 2006, Le Travenues Technology Limited is an online travel agency (OTA) that enables travellers to book train, flight, and bus tickets and hotels via its OTA platforms under the brand name “ixigo”.

The company’s list of services includes PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternative route or transportation planning, flight status updates, automated web check-in, bus running status, price and availability alerts, deal discovery, destination content, personalised recommendations, instant fare alerts for flights, AI-based travel planning service and automated customer support.

The company has the highest app usage among OTAs, with a cumulative 83 million monthly active users across its apps, according to data.ai in September 2023. The company recently launched ixigo PLAN, an intelligent, AI-based travel planner that helps travellers plan their trips with detailed itineraries and real-time destination information. It has also launched a generative AI plugin that enables conversational interactions with ixigo PLAN.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.