ixigo IPO Open for subscription

10 Jun 2024 , 11:45 AM

The initial public offer of Le Travenues Technology, famously known as ixigo opened for subscription on June 10. The company has fixed the price band at ₹88-93 per share. Investors who want to apply for the IPO can apply for 161 shares in a lot and its multiples thereof. Click here to subscribe to the IPO.

On day 1 by 11.36 am, the issue has been subscribed 51%. The retail portion of the IPO has been oversubscribed by 2.51 times while the non-institutional investors’ portion has received 44% of the subscription against the quota reserved.

According to RHP, the company aims to raise ₹740.10 Crore from the IPO which includes a fresh issue of equity shares worth ₹120 Crore and rest as an offer for sale (OFS).

Ixigo’s IPO aims to allocate funds from the fresh issue towards several key areas. The company plans to use the proceeds for working capital requirements, investment in cloud infrastructure and technology, funding inorganic growth through acquisitions, and other strategic initiatives, along with general corporate purposes.

Ixigo offers a wide range of services to its users. These include 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, personalized recommendations, instant fare alerts for flights, an AI-based travel planning service, and automated customer support.