ixigo raises Rs 333 crore from anchor investors

10 Jun 2024 , 09:38 AM

Le Travenues Technology Ltd, which operates the travel booking platform ixigo, has announced that it has raised ₹333 crore from anchor investors on June 7. These anchor investors include the Government of Singapore, Morgan Stanley, WhiteOak Capital, Bay Capital India Fund, Tata Investment Corporation, Bajaj Allianz Life Insurance Company, SBI Mutual Fund, and HDFC Mutual Fund, according to a BSE circular.

The company has allotted 3.58 crore equity shares to 23 funds at ₹93 each, totaling ₹333 crore. The IPO, priced between ₹88 to ₹93 per share, will open on June 10 and close on June 12.

IPO Details

The ₹740-crore IPO consists of a fresh issue of equity shares worth ₹120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares amounting to ₹620 crore by existing shareholders. Key sellers under the OFS include SAIF Partners India IV Ltd, Peak XV Partners Investments V, Micromax Informatics Ltd, Placid Holdings, Catalyst Trusteeship Ltd, Madison India Capital HC, Aloke Bajpai, and Rajnish Kumar.

Utilization of Proceeds

The company will use net proceeds from the fresh issue towards the funding of working capital requirements, invest in technology and data science, including AI and customer engagement technologies, and additional funds will support acquisitions and general corporate purposes..

Issue Allocation

• Qualified Institutional Buyers (QIBs): 75%
• Non-Institutional Investors: 15%
• Retail Investors: 10%

Investors can bid for a minimum of 161 shares and in multiples thereof.