ixigo was issued the observation letter by the markets regulator on May 14, shows SEBI document The IPO comprises a fresh issue of shares worth INR 120 Cr and an offer for sale (OFS) component of 6.66 Cr shares ixigo’s profitability factor as well as its focus on railway ticketing and targeting the Tier II and smaller markets are expected to be the major strengths for its IPO, believes analysts Online travel aggregator (OTA) ixigo ’s parent Le Travenues Technology Ltd has received a go-ahead for the INR 120 Cr+ initial public offering (IPO) from the Securities and Exchange Board of India (SEBI). As per a latest SEBI notification, ixigo was issued the observation letter by the markets regulator on May 14.
This indicates an approval from the regulator to launch the public issue. The Peak XV Partners-backed traveltech major refiled its draft red herring prospectus (DRHP) with the SEBI in February this year. The company’s IPO comprises a fresh issue of shares worth INR 120 Cr and an offer for sale (OFS) component of 6.
66 Cr shares. The startup plans to use INR 45 Cr from the IPO proceeds for its working capital requirements. Another INR 26 Cr would be deployed to ramp up its tech stack and scale up investments in data science and AI, among others.
Axis Capital, JM Financial, and DAM Capital Advisors are the lead book runners to the issue. Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo started as a travel search website, helping users compare flight deals. In FY20,.
