Le Travenues Technology’s Rs 740.10 crore IPO opens on June 10: Key dates, financials, and investor insights
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The Initial Public Offering (IPO) of Le Travenues Technology, the parent company of popular travel aggregator Ixigo, is set to make its debut on stock market on June 10, 2024. This eagerly anticipated IPO includes a fresh issuance of equity shares worth Rs 120 crore and an offer-for-sale (OFS) of 6,66,77,674 equity shares by the existing shareholders.
Key highlights of the Ixigo IPO
- Total IPO size: Rs 740.10 crore
- Fresh Issue: 1.29 crore shares aggregating to Rs 120 crore
- Offer-for-Sale: 6.67 crore shares aggregating to Rs 620.10 crore
- IPO opening date: June 10, 2024
- IPO closing date: June 12, 2024
- Anchor book opening: June 7, 2024
- Allotment date: June 13, 2024
- Listing date: June 18, 2024
- Price band: ₹88 to ₹93 per share
- Minimum lot size: 161 shares
- Minimum investment for retail investors: ₹14,973
The IPO sees significant participation from various major shareholders:
SAIF Partners India IV and Peak XV Partners Investments V are the largest shareholders, holding 23.37% and 15.66% stakes respectively.
Other key stakeholders include Aloke Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Catalyst Trusteeship, and Madison India Capital HC.
Le Travenues Technology has shown substantial growth in recent years:
FY23 performance: The company recorded a net profit of Rs 23.4 crore, a significant turnaround from a loss of Rs 21.09 crore in the previous year. Revenue from operations increased by 32% to Rs 501.3 crore.
9MFY24 performance: For the nine-month period ended December FY24, net profit soared by 252.1% to Rs 65.7 crore, up from Rs 18.7 crore in the same period of the previous fiscal. Revenue jumped 34.8% to Rs 491 crore.
Founded in 2006, Le Travenues Technology operates as an online travel agency (OTA) under the brand name “Ixigo”. The company provides a comprehensive range of services including train, flight, and bus ticket bookings, as well as hotel reservations. Ixigo has a strong user base with 83 million monthly active users as of September 2023.
With its strong financial growth and innovative service offerings, Le Travenues Technology’s IPO is poised to attract significant investor interest. The company’s robust performance and strategic plans position it well for continued success in the competitive travel industry. Investors looking to capitalize on the booming travel market should keep an eye on the Ixigo IPO as it opens for subscription on June 10, 2024.