ixigo’s IPO comprises a fresh issue of shares worth INR 120 Cr and an offer for sale component of 6.67 Cr shares worth INR 620 Cr ixigo is set to become the fourth new-age tech startup to go for a mainboard IPO in 2024 after Awfis, Go Digit, and TBO Tek Its focus on railway ticketing and targeting of the Tier II and smaller markets seem to be the major strengths for its IPO Online travel aggregator (OTA) Le Travenues Technology, the parent entity of ixigo, has set a price band of INR 88-93 per equity share for its upcoming initial public offering (IPO), which is opening for bids next Monday (June 10). At the upper price band, the Delhi NCR-based startup is expected to raise a total of INR 740 Cr.
ixigo’s IPO comprises a fresh issue of shares worth INR 120 Cr and an offer for sale (OFS) component of 6.67 Cr shares. As part of the OFS, cofounders Rajnish Kumar and Aloke Bajpai are selling 1.
19 Cr shares each. Its investor SAIF Partners India is selling 1.94 Cr shares and Peak XV Partners, 1.
3 Cr shares. Other investors, including Micromax Informatics, Placid Holdings and Madison India are also selling portions of their stakes as part of the IPO. Founded in 2007 by Bajpai and Kumar, Ixigo started as a travel search website to help users compare flight deals.
In FY20, it became an OTA, earning revenue from selling various travel services like flights, trains, bus tickets, hotel bookings and holiday packages. It is pertinent to note that ixigo, during India’s bullish IPO mar.
