Le Travenues Technology, the company which operates the travel tech platform Ixigo, will open its initial public offering (IPO) for subscription from June 10 to June 12.
The company filed its draft red herring prospectus (DRHP) with markets regulator SEBI in February and received approval in May.
The IPO includes a fresh equity sale of ₹120 crore and an offer for sale (OFS) of up to 6.66 crore shares. In the OFS, stakeholders such as SAIF Partners, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, and Placid Holdings will sell part of their stakes.
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The offering is being conducted through the book-building process, with 75 per cent of the IPO reserved for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail investors.
The net proceeds from the public offer are intended to be used for funding working capital requirements, investments in technology, supporting inorganic growth through acquisitions and other strategic initiatives, and general corporate purposes.
Ixigo is a travel technology company dedicated to empowering Indian travelers to plan, book, and manage their trips across rail, air, buses, and hotels. The company aids travelers in making smarter travel decisions by leveraging innovations in artificial intelligence, machine learning, and data science on its OTA platforms.
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Axis Capital, DAM Capital, and JM Financial are serving as the book-running lead managers for the issue, with Link Intime India acting as the registrar.
For the nine months ending December 2023, the company reported revenue from operations surged 31 per cent year-on-year to ₹497 crore, while net profit skyrocketed to ₹65.7 crore.
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Published: 04 Jun 2024, 11:01 PM IST
