Ixigo IPO Subscribed 3.63x on Day 2

On the 2nd day of bidding, Le Travenues Technology Ltd’s IPO (ixigo IPO) witnessed increased interest from retail investors. The company will use IPO proceeds of 740.10 crore for part-funding working capital requirements, investments in cloud infrastructure and technology, and funding inorganic growth through unidentified acquisitions, other strategic initiatives, and general corporate purposes.

Ixigo has appointed Axis Capital Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) and JM Financial Limited as the book-running lead managers, while Link Intime India Private Ltd is the registrar for the issue.

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.

On the 2nd day of subscription, i.e., June 11, 2024, the IPO was subscribed 3.63x. QIBs subscribed 0.32x, NIIs 7.83x, and retail investors subscribed 7.22x.

Grey Market Premium

Ixigo IPO’s last GMP is ₹28. With a price band of ₹93.00, ixigo IPO’s estimated listing price is ₹121 (cap price + today’s GMP). The expected percentage gain/loss per share is 30.11%.

Overview Le Travenues Technology Limited (ixigo)

Le Travenues Technology Ltd. (LTTL)- popularly known as “IXIGO”, is a technology company that empowers Indian travellers to plan, book and manage their trips across rail, air, buses and hotels. The company’s OTA platforms allow travellers to book train tickets, flight tickets, bus tickets and hotels while providing travel utility tools and services developed using in-house proprietary algorithms and crowd-sourced information, including train PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, ices.

The company’s revenue from operations has grown at a CAGR of 92.29% between Fiscal 2021 and Fiscal 2023. It has the highest app usage among OTAs, with 83 million Monthly Active Users cumulatively across its apps, as per data.ai in September 2023.

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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.