ixigo IPO to open on June 10; here’s what GMP indicates ahead of public issue

  • ixigo IPO: Ixigo IPO by Le Travenues Technology Ltd opens on June 10 with a price band of 88 to 93 per share. The issue closes on June 12, allocating 75% to QIBs, 15% to non-institutional investors, and 10% to retail investors.

Dhanya Nagasundaram
First Published8 Jun 2024, 02:39 PM IST
Ixigo IPO: (L-R): Mr. Saurabh Devendra Singh (Group Chief Financial Officer, Ixigo), Mr. Aloke Bajpai (Chairman, Managing Director, and Group CEO, Ixigo) and Mr. Rajnish Kumar (Director and Group Co-CEO, Ixigo) at the press conference in connection to Le Travenues Technology Limited’s (Ixigo) Initial Public Offering (IPO).
Ixigo IPO: (L-R): Mr. Saurabh Devendra Singh (Group Chief Financial Officer, Ixigo), Mr. Aloke Bajpai (Chairman, Managing Director, and Group CEO, Ixigo) and Mr. Rajnish Kumar (Director and Group Co-CEO, Ixigo) at the press conference in connection to Le Travenues Technology Limited’s (Ixigo) Initial Public Offering (IPO).

Le Travenues Technology Ltd, which owns the travel booking website ixigo, is scheduled to open on Monday, June 10 for subscription, and will conclude on Wednesday, June 12. ixigo IPO announced on Friday that it had raised 333 crore from anchor investors ahead of its debut share offer for public subscription.

Overall, the company offered 3.58 crore equity shares to 23 funds at 93 apiece, for a total of 333 crore, it said. ixigo IPO price band has been set in the range of 88 to 93 per share.

ixigo is a technological firm that enables Indian travellers to plan, schedule, and manage their journeys by train, air, buses, and hotels. ixigo is the premier Online Travel Agency (OTA) for the 'next billion customers', with an emphasis on localised content and app features that address the needs of tier II/ tier III travellers. They help travellers make smarter travel decisions by employing artificial intelligence, machine learning, and data science-driven technologies on its OTA platforms, which include websites and mobile applications.

Also Read: ixigo IPO: Gurgaon-based company garners 333 crore via anchor book ahead of public issue

ixigo said on Friday that its existing shareholders had completed the sale of equity worth little more than 176 crore in a pre-IPO deal.

Ashoka India Equity Investment Trust Plc, Tata Multi Asset Opportunities Fund, Tata Digital India Fund, Bay Capital Holdings, and Steadview Capital Mauritius, as well as ixigo co-founders Aloke Bajpai and Rajnish Kumar, purchased shares, according to a PTI report.

The firm allotted 75% of the issue size to qualified institutional buyers (QIBs), 15% to non-institutional investors, and 10% for retail investors. Investors can bid on a minimum of 161 shares and multiples thereof.

Also Read: Ixigo IPO to open on June 10; here are 10 key things to know from RHP before subscribing to the 740-crore issue

ixigo IPO details.

Let's check what the ixigo IPO GMP today signals ahead of the issue opening.

ixigo IPO GMP today or grey market premium is +25. This indicates ixigo share price were trading at a premium of 25 in the grey market, according to investorgain.com.

Given the top end of the IPO price band and the existing premium in the grey market, the ixigo IPO estimated listing price is 118 per share, which is 26.88% more than the IPO price of 93.

Based on the previous four sessions of grey market activity, today's IPO GMP is going upward and anticipates a solid listing. The lowest GMP is 0, while the highest GMP is 28, according to investorgain.com analysts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Ixigo IPO: Price band set at 88-93 per share; check issue details here

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.

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.

Also Read: Ixigo IPO: From launch date to size - here's all you need to know about the upcoming issue

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.MoreLess
First Published:8 Jun 2024, 02:39 PM IST
HomeMarketsIPOixigo IPO to open on June 10; here’s what GMP indicates ahead of public issue

Most Active Stocks

Indian Oil Corporation

174.75
01:05 PM | 11 JUL 2024
2.8 (1.63%)

Tata Steel

169.70
01:05 PM | 11 JUL 2024
1.7 (1.01%)

Bharat Petroleum Corporation

305.35
01:05 PM | 11 JUL 2024
5 (1.66%)

Oil & Natural Gas Corporation

303.75
01:05 PM | 11 JUL 2024
5.7 (1.91%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Great Eastern Shipping Company

1,470.00
12:56 PM | 11 JUL 2024
108.25 (7.95%)

Gujarat Pipavav Port

236.10
12:55 PM | 11 JUL 2024
16.35 (7.44%)

Data Patterns India

3,424.85
12:56 PM | 11 JUL 2024
223.1 (6.97%)

Sona Blw Precision Forgings

733.25
12:55 PM | 11 JUL 2024
43.95 (6.38%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K

    Fuel Price

    • Petrol
    • Diesel
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts