Le Travenues Technology (Ixigo) IPO: Everything you need to know

5 Jun 2024 , 10:12 AM

Le Travenues Technology, the parent company of travel aggregator Ixigo, is set to launch its initial public offering (IPO) on June 10. The IPO has a price band of ₹88-93 per share and will close on June 12. It consists of a fresh issuance of equity shares worth ₹120 Crore and an offer-for-sale (OFS) of 6,66,77,674 equity shares by existing shareholders.

The anchor book of the public issue will open on June 7, with allotment finalized by June 13. The company’s shares are expected to be listed on BSE and NSE on June 18.

SAIF Partners India IV, Peak XV Partners Investments V, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Catalyst Trusteeship, and Madison India Capital HC are among the selling shareholders in the OFS. SAIF Partners and Peak XV are the largest shareholders, holding 23.37% and 15.66% stakes, respectively.

Le Travenues Technology focused on providing technology solutions for travellers to plan, book, and manage trips across rail, air, buses, and hotels, reported a net profit of ₹23.4 Crore for FY23, reversing a loss of ₹21.09 Crore in the previous year. Revenue for FY23 increased by 32% to ₹501.3 Crore.

For the nine months ended December FY24, the company’s net profit surged by 252.1% year-on-year to ₹65.7 Crore, up from ₹18.7 Crore, with revenue rising by 34.8% to ₹491 Crore compared to the same period the previous fiscal.

Axis Capital, DAM Capital Advisors, and JM Financial are acting as the book-running lead managers for the IPO.