According to the Draft Red Herring Prospectus (DRHP) of the company filed with the capital market regulator, Ixigo (Le Travenues Technology Limited) has plans to raise Rs. 750 crores via a primary fundraiser and Rs. 850 crores through an OFS (Offer For Sale) from current investors as part of its Initial Public Offering (IPO). The company’s DRHP filed for INR 1,600 crore in March 2023.
As per the DRHP prospectus, the promoters Rajnish Kumar and Aloke Bajpai wanted to auction their holdings through the IPO. The digital travel aggregator raised a total of 33 million dollars last month in a pre-IPO round led by Singapore sovereign wealth fund GIC, along with other participants; Bay Capital, Info Edge Ventures, Trifecta Capital, Malabar Investments, White Oak, and Orios Venture Partner. Follow below to learn more about Ixigo, its subsidiaries and how this IPO is going to prove for the company.
An AI-based online travel portal, Ixigo was launched in 2007, and its founders are Rajnish Kumar and Aloke Bajpai. The company is headquartered in Gurgaon and does the aggregating and comparing of real-time information, availability, and prices for trains, flights, buses, and hotels. This portal also allows ticket booking through its associated apps and websites. In 2007, the digital travel aggregator and agnostic platform provider Ixigo (Le Travenues Technology Limited) launched its flight’s meta-search website. In the year 2008, the company brought in a hotel search engine on its website. Moving ahead in early 2014, Ixigo launched its train ticket booking app. In August 2021, it acquired AbhiBus, the bus ticket booking and fleet management portal, in a stock deal in cash.
Ixigo has two subsidiaries:
It is India’s leading online bus ticket booking service provider that facilitates online booking for buses to travelers all across the nation. This platform allows Indian customers to book bus tickets at a click. AbhiBus also provides technology solutions to over 100 large private bus operators in India, two international operators, and four state transport corporations. Their end-to-end software solutions include fleet management, e-ticket, vehicle tracking, logistics, and passenger information systems.
Confirmtkt is amongst the highest-rated applications for booking IRCTC train tickets online. The aim of this platform is to allow customers to conduct train discoveries and bookings. Their online platform enables users to check the probabilities of their waitlisted train tickets getting confirmed on the basis of historical trends. Moreover, it advises alternative travel options by utilizing the unused train inventory. It helps travelers by providing the best possible conveyance options across buses and trains to reach their destination.
Essential Things To Know About Previous Ixigo IPO
We have discussed the latest IPO filings of Ixigo; here are a few things to know about Ixigo’s previous IPOs. The digital travel aggregator and agnostic platform provider Ixigo filed its DRHP (Draft Red Herring Prospectus) in August 2021, and its IPO was observed and approved by SEBI in December 2021. Though the company’s IPO dates are not yet announced, the IPO will be a combination of a new issue and an offer for sale.
Ixigo unlisted shares price at the moment is Rs90 per equity share, and the company has filed for an IPO with SEBI that amounted to a recent issue of INR 750 crores. Their offer for sale (OFS) component in Ixigo shares will be worth INR 850 crore. The company will use a fresh issue portion of INR 750 crore for its organic and inorganic growth initiatives. The buyout of the Hyderabad-based bus ticketing and aggregation platform ticket booking facility on the platform was its recent inorganic purchase. Additionally, the IPO of Ixigo would be led by ICICI Securities, Kotak Mahindra Capital, Axis Bank, and Nomura Financial Advisory. They will work as the BRLMs or book-running lead managers on the issue.
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Ixigo is valued at 850 million dollars at present and is expected to go public later this year. The goal of an IPO is to provide a partial exit for the shareholders of the company while also facilitating expansion financing. The advisors have begun introductory conversations and are anticipated to be nominated soon. The company is currently operating at INR 5,000 crore annualized gross booking value run rate, which is nearly two times up from pre-Covid levels. If you are interested in trading Ixigo unlisted shares, then Stockify can be the perfect platform. It is India’s leading unlisted shares trading platform which lets investors buy and sell profitable shares. From healthcare, management, healthcare, technology, and food, it provides access to unlisted shares of companies from all domains.
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