Le Travenues Technology IPO subscribed 98.34 times on Day 3

13 Jun 2024 , 08:33 AM

By 07:00 p.m. on June 12, 2024, bids for 43,040.96 lakh shares of Le Travenues Technology (Ixigo) had been placed out of the 437.69 lakh shares available in the IPO (excluding the anchor part). This suggests a macro-level total subscription of 98.34X. The following is a detailed breakdown of subscribers as of Day 3’s close of Le Travenues Technology’s (Ixigo) initial public offering (IPO):

As of Day 3’s conclusion, NII made the most subscriptions at 110.53 times, followed by Retail investors at 54.85 times and QIB investors at 106.73 times. The final day is usually when QIB and NII bids gained the most traction.

On the final day, when the corporate, bulk QIB, and bulk HNI funding bids were received, both the NII and QIB bids gain traction.

It is suggested that the net proceeds from the public offering be used to pay for general corporate needs, investments in technology, working capital requirements, and inorganic expansion through acquisitions and other strategic activities.

A technology startup called Ixigo aims to give Indian tourists more control over how they organise, schedule, and handle their travels via buses, trains, aeroplanes, and hotels. Through the use of data science-led innovations, machine learning, and artificial intelligence in its OTA platforms, it helps travellers make more informed travel decisions.

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