Le Travenues Technology Limited, the company behind the travel booking website Ixigo, is scheduled to go public on stock exchanges on June 10th, with a price range of Rs 88-93 per share.
A day before Anchor Book, the company revealed that it was going to conduct a pre-IPO secondary placement of Rs 176.2 crore ($21 million) at the top-end price of Rs 93.
Ashoka India (White Oak), Tata Digital Fund, and Bay Capital purchased the 1,07,52,689 shares that early backer SAIF Partners had sold for Rs 100 crore ($12 million). Conversely, PeakXV sold Steadview Holding and Bay Capital 6,989,248 shares for Rs 65 crore ($7.8 million).
Moreover, Micromax and Madison India sold Steadview Capital 12,05,268 shares for Rs 11.2 crore ($1.3 million) in a pre-IPO secondary round.
After this secondary transaction, the company reports that SAIF partners will own 20.52%, while Peak XV and Micromax will own 13.81% and 5.52%, respectively. The combined ownership of Ixigo’s co-founders, Rajnish Kumar and Aloke Bajpai, is 16.65%.
The analysis indicates that SAIF Partners and Peak XV will receive substantial returns from Ixigo of 13X and 8.2X, respectively. The Gurugram-based business will also provide Micromax Limited with a respectable 10.88X return.
The retail investor minimum lot size for Ixigo’s public offering is 161, and it will be available from June 10 to June 12. The minimum lot size for non-institutional small investors is 14 lots.
Ixigo’s growth during the first nine months of the previous fiscal year (FY24) was quite favorable. Operating revenue for the company was Rs 491 crore, and during that same period, it turned a healthy profit of Rs 65.7 crore.
