Ixigo IPO Subscribed 1.95 times on Day 1

11 Jun 2024 , 08:25 AM

June 10 was the first day when subscriptions for the online travel booking company Le Travenues Technology Ltd., also known by its brand name ixigo, are available. The goal of the technology startup Ixigo is to make it easier for Indian tourists to organise, schedule, and manage their travels via buses, trains, aeroplanes, and hotels.

As of March 31, 2023, Ixigo accounted for the greatest proportion of the Indian train ticket distribution market in the Online Travel Agency (OTA) rail market, with around 51% of all rail bookings made through OTAs.

June 10 is when the Ixigo IPO bidding commences and ends on June 12. The Ixigo IPO listing is scheduled for June 18 and the IPO allotment is anticipated to be finalised on June 13.

The price range for the Ixigo IPO is ₹88 to ₹93 per share. Retail investors must invest a minimum of ₹14,973 and the IPO lot size is 161 shares.

The ixigo IPO size, at the upper end of the pricing range, is ₹740.10 Crore. This is made up of an offer for sale (OFS) component of 6.67 Crore shares, totaling ₹620.10 Crore, and a fresh issue of 1.29 Crore equity shares, totaling ₹120 Crore.

Prior to its IPO opening last week, Le Travenues Technology Ltd. has secured ₹333 Crore from anchor investors.

The ixigo IPO’s book running lead managers are Axis Capital, Dam Capital Advisors Ltd., and JM Financial, with Link Intime India Private Ltd. serving as the registrar.

The goal of the company’s net issue proceeds is to finance working capital requirements in part, investments in cloud infrastructure and technology, and inorganic expansion through acquisitions that have not yet been identified, among other strategic objectives and general corporate purposes.

Within hours of opening on June 10, the Ixigo IPO was completely subscribed. According to BSE data up till 5:00 pm, the public issue has been subscribed 1.95 times thus far, with bids for 8.55 Crore equity shares received compared to the 4.37 Crore shares on offer.

In the retail category, the IPO has been subscribed 6.21 times, and in the non-institutional investor (NII) category, 2.78 times. So far, 12% of the shares set aside for Qualified Institutional Buyers (QIBs) were reserved.

For feedback and suggestions, write to us at [e-mail]

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/