As part of its initial public offering, parent company Le Travenues Technology Limited, which operates the travel booking platform Ixigo, has made shares valued at Rs 333 crore ($40 million) available to anchor investors.
Ixigo’s regulatory filing, retrieved from the Bombay Stock Exchange, indicates that the board has resolved to offer 3,58,11,405 equity shares at an issue price of Rs 93 each to its anchor investors.
The announcement of its pre-IPO secondary placement of Rs 176.2 crore ($21 million) at the top-end price preceded the development.
Among the major anchor investors in Ixigo’s IPO are SBI, HDFC, Morgan Stanley, Nomura Fund, 3P India, Motilal Oswal, Malabar, Bajaj Allianz, and Tata Investments.
As per the filing, of the 3,58,11,405 equity shares that were allotted to the anchor investors, 1,20, 87,583 equity shares were distributed among 4 domestic mutual funds via 7 schemes.
Ixigo’s initial public offering is scheduled for June 10, 2024, with a minimum bid quantity of 161 shares and a price range of Rs 88-93.
Before the anchor investment round, Micromax and Peak XV held 5.52% and 13.81% of the company, respectively, while SAIF Partners held 20.52%. The combined ownership of Ixigo’s co-founders, Rajnish Kumar and Aloke Bajpai, is 16.65%.
For the first nine months of the previous fiscal year (FY24), Ixigo showed respectable growth. During that same period, the company generated operating revenue of Rs 491 crore and a substantial profit of Rs 65.7 crore.
