ixigo share price makes a stellar debut, stock opens with 48.5% premium at ₹138.10 apiece on NSE

  • ixigo share price debuted positively, opening at 138.10 on NSE and 135 on BSE, higher than the issue price of 93. Subscription status was 98.34 times during the three-day bidding period.

Dhanya Nagasundaram
First Published18 Jun 2024, 10:00 AM IST
ixigo share price lists on the bourses today.
ixigo share price lists on the bourses today. (Photo: Courtesy company website)

ixigo share price made a positive debut on the bourses today. On NSE, ixigo share price opened at 138.10 per share, 48.5% higher than the issue price of 93. On BSE, ixigo share price today opened at 135 apiece, up 45.16% than the issue price.

Market experts anticipated ixigo share price to open in the range of 120 to 125 per share.

During the three-day subscription period, investors were full of enthusiasm about Le Travenues Technology's IPO, which operates the travel booking site ixigo. The 740 crore offer began on Monday, June 10 and finished on Wednesday, June 12. The ixigo IPO subscription status was 98.34 times on the final day of bidding today.

Also Read: ixigo IPO listing LIVE updates: ixigo share price extends gain after a strong debut

Aloke Bajpai and Rajnish Kumar established Le Travenues Technology in 2007, which is one of the country's leading online travel aggregators, supporting travelers in planning, booking, and managing their journeys by rail, plane, bus, and hotel.

According to market experts, Le Travenues ltd's (ixigo) IPO offers investors a unique opportunity to invest in a key player in India's online travel agency (OTA) industry, with a focus on the "next billion users."

Peak XV backed ixigo IPO set its offer price between 88 and 93 per share. Le Travenues Technology reported that it obtained 333 crore from key investors. Axis Capital, DAM Capital Advisors, and JM Financial are the book running lead managers (BRLMs) for the offer.

SAIF Partners and Peak XV are the company's major shareholders, holding 23.37% and 15.66%, respectively.

“We first partnered with Aloke and Rajnish in 2016 but we have known them for 16 years, and to see them go public today is a career highlight. With ~100 million MAUs and owning 4 of the top 10 travel apps in India, ixigo is a leading online travel platform that is best positioned to help the hundreds of millions of travellers explore India and the world. After overcoming many tough and near-death situations, as ixigo transfers to the next leg of the journey today, we couldn’t have been more proud of the company the founders have built and are truly grateful for the privilege of being a part of this journey,” said Shailesh Lakhani, Managing Director, Peak XV Partners.

Also Read: ixigo IPO listing date today. GMP, experts see strong debut of Le Travenues Technology shares

ixigo IPO details

ixigo IPO details

The ixigo IPO in Gurugram combines a fresh issuance of equity shares worth 120 crore with an offer for sale (OFS) of 6.66 crore equity shares worth 620 crore by existing shareholders at the top of the price range.

The proceeds of the new offering would be used to meet the company's working capital needs, with 26 crore spent in technology and data science, such as cloud and server hosting, artificial intelligence, and customer engagement. In addition, capital will be utilised to fund inorganic growth through acquisitions as well as overall corporate goals.

Also Read: ixigo IPO listing date fixed. GMP signals strong debut of Le Travenues Technology shares

ixigo IPO GMP today

ixigo IPO GMP today or grey market premium is +30.50. This indicates ixigo share price were trading at a premium of 30.50 in the grey market, according to investorgain.com.

Given the top end of the IPO price band and the current grey market premium, the expected listing price for the ixigo IPO was 123.5 per share, or 32.8% more than the IPO price of 93.

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

Also Read: ixigo IPO: Here's what GMP signals ahead of listing on June 18

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

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First Published:18 Jun 2024, 10:00 AM IST
HomeMarketsixigo share price makes a stellar debut, stock opens with 48.5% premium at ₹138.10 apiece on NSE

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