ixigo IPO booked 9.33 times on day 2 on strong demand from retail investors; check GMP, subscription status
- ixigo IPO: ixigo IPO subscription was 9.33 times oversubscribed on the second day, with retail investors bidding 18.73 times and non-institutional investors 20.14 times. Analysts expect potential listing gains of over 20% due to high interest.
ixigo IPO subscription status: Le Travenues Technology's initial public offering (IPO), which runs the travel booking website ixigo, was subscribed to 9.33 times on Tuesday, the second day of subscription.
The ₹740-crore initial share sale received bids for 40,83,95,659 shares against 4,37,69,494 shares on offer, according to BSE data.
The retail individual investor category was booked to 18.73 times, while non-institutional investors received 20.14 times as many subscriptions. The component for qualified institutional buyers (QIBs) was subscribed at 79%.
“ixigo IPO subscription are in line with our expectations with increased interest from retail bidding more than 10x, followed by NIIs/HNIs who have bought more than 7 times the reserved portion as of now on the second day of bidding which could mean the over subscription can lead to potentially decent listing gains over and above 20% for investors. We believe Le Travenues ltd (IXIGO) IPO brings investors a unique opportunity to invest in a prominent player in India's online travel agency (OTA) market, particularly targeting the 'next billion users,” said Rajan Shinde, Research Analyst, Mehta Equities Ltd.
The ixigo IPO began subscriptions on Monday, June 10, and will close on Wednesday, June 12. ixigo IPO said on Friday that it has secured ₹333 crore from anchor investors ahead of its first public offering.
ixigo reported that its current stockholders sold shares for little more than ₹176 crore in a pre-IPO transaction. The company offered 75% of the issueto qualified institutional buyers (QIBs), 15% to non-institutional investors, and 10% to retailinvestors. Investors can bid on a minimum of 161 shares or multiples thereof. The Ixigo IPO price band has been set at ₹88 to ₹93 per equity share with a face value of one apiece.
Le Travenues Technology, often known as ixigo, is a technology firm that enables Indian travelers to plan, book, and manage travels by train, air, buses, and hotels. Its aim is to be the most customer-centric travel company, providing great service via technology, cost effectiveness, and innovation.
The company's OTA platforms allow you to book trains, flights, buses, and hotels, as well as travel utility items like PNR status, confirmation forecasts, seat availability alerts, running status updates, and delay predictions.
ixigo IPO details
The Gurugram-based ixigo IPO is a combination of a new issue of equity shares worth ₹120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares worth ₹620 crore by existing shareholders at the top end of the price band. This equates to a public offering of ₹740 crore.
The fresh issue's proceeds of ₹45 crore will be used to fund the company's working capital requirements, while ₹26 crore will be used for investments in technology and data science, such as cloud and server hosting, artificial intelligence and customer engagement. In addition, funds will be utilised to support inorganic expansion through acquisitions as well as general business objectives.
The book running lead managers for the ixigo IPO are Axis Capital Limited, Dam Capital Advisors Ltd (formerly Idfc Securities Ltd), and JM Financial Limited, with Link Intime India Private Ltd serving as the registrar.
ixigo IPO GMP today
ixigo IPO GMP today or grey market premium is +28. This indicates ixigo IPO share price were trading at a premium of ₹28 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, ixigo IPO expected listing price was indicated at ₹121 apiece, which is 30.11% higher than the IPO price of ₹93.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
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