The initial public offering (IPO) of the online travel agency Le Travenues Technology Ltd, widely recognized by its brand name ixigo, concluded on June 12 with strong subscription.
The allotment of ixigo IPO was finalised on June 13. Now, investors are eagerly for the public offer to make its stock market debut on June 18.
Ahead of listing, the shares of ixigo IPO are trading at a premium of ₹29 in the grey market premium (GMP), as per investorgain.com. This indicates that Ixigo’s equity shares are trading ₹29 higher than their issue price of ₹93 per share in the grey market.
Based on today’s Ixigo IPO GMP and the issue price, the estimated listing price for Ixigo’s IPO is ₹122 per share, reflecting a 31.18 per cent premium over the issue price.
The Ixigo IPO received an overall subscription rate of 98.10 times. Specifically, it was oversubscribed 53.95 times in the retail category, 106.73 times in the Qualified Institutional Bidders (QIB) category, and 110.25 times in the Non-Institutional Investors (NII) category.
ixigo IPO details
The Ixigo IPO opened for subscription from June 10 to June 12. The allotment of shares for the IPO has been finalized today, with the listing date scheduled for June 18.
Ixigo offered its IPO at a price band of ₹88 to ₹93 per share, with a lot size of 161 shares. At the upper end of this range, the company raised ₹740.10 crore through the IPO. This amount includes ₹120 crore from a fresh issue of 1.29 crore equity shares and ₹620.10 crore from an offer for sale (OFS) of 6.67 crore shares.
Also read: Upcoming IPOs: Nine public issues and one new listing scheduled for next week; check full list here
The company plans to use the net proceeds from the issue to partially fund working capital needs, invest in cloud infrastructure and technology, finance potential acquisitions and other strategic initiatives, and for general corporate purposes.
Axis Capital, Dam Capital Advisors Ltd, and JM Financial are the book running lead managers for the ixigo IPO, with Link Intime India Private Ltd serving as the IPO registrar.
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Published: 16 Jun 2024, 03:29 PM IST
