ixigo IPO: Gurgaon-based company garners ₹333 crore via anchor book ahead of public issue
- ixigo IPO raised ₹333 crore from anchor investors ahead of its debut on June 10. Major investors include Nomura, Morgan Stanley, and HDFC MF. Subscription period ends on June 12.
The ixigo IPO, which is set to debut on D-Street on Monday, June 10, has already raised ₹333 crore from anchor investors. The subscription period for Le Travenues Technology's initial public offering will wrap up on Wednesday, June 12.
Major investors that have subscribed to ixigo IPO's anchor book include Nomura, Morgan Stanley, 3P India Equity Fund, HDFC MF, Motilal Oswal MF, the Government of Singapore, and Tata Investment Corporation.
“The IPO Committee of the company at its meeting held on June 07, 2024, in consultation with Axis Capital Limited, DAM Capital Advisors Limited and JM Financial Limited (“Book Running Lead Managers”), have finalised allocation of 35,811,405 equity shares, to anchor investors at anchor investor allocation price of ₹93/- per equity share,” said the company in an exchange filing on Friday, June 7.
Out of the total allocation of 35,811,405 equity shares to anchor investors, 12,087,583 equity shares (33.75% of the total allocation to anchor investors) were allocated to four domestic mutual funds that applied through a total of seven schemes (SBI Magnum Children's Benefit Fund, HDFC Mutual Fund, Whiteoak Capital Flexi Cap Fund, Motilal Oswal Large Cap Fund).
ixigo IPO already announced pre-IPO secondary placements of about ₹176.2 crore at the upper end of the price range, which were completed a day before the anchor book opened.
ixigo is a digital firm that enables Indian travellers to plan, book, and manage their journeys by train, air, bus, and hotel. It helps travellers make better travel decisions by using artificial intelligence, machine learning, and data science-driven technologies into its OTA platforms.
Travellers can book train, flight, and bus tickets, as well as hotels, while also benefiting from utility tools and services such as train PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, bus running status, personalised recommendations, instant fare alerts, and automated customer support.
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.
The company has set a price band of ₹88-93 per share, and investors can bid for 161 shares in a single lot or in multiples following that.
The company stated that 75% of the issue size has been allocated for qualified institutional buyers (QIBs), 15% for non-institutional investors, and the remaining 10% for retail investors. Investors may bid for a minimum of 161 shares and multiples thereof.
For the nine months ending December 2023, revenue from operations climbed 31% year on year to ₹497 crore, while net profit increased tenfold to ₹65.7 crore.
ixigo IPO GMP today
ixigo IPO GMP today or grey market premium is +28. This indicates ixigo 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.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High