The highly anticipated initial public offering (IPO) of Le Travenues Technology Ltd, known by its popular brand ixigo, concluded on June 12 with strong investor interest.
The allotment of ixigo IPO shares was finalized on June 13, and now investors are eagerly awaiting its stock market debut on June 18.
Ahead of its listing, ixigo IPO shares are trading at a premium of ₹29 in the grey market, according to investorgain.com. This suggests that ixigo’s shares are priced ₹29 higher than their IPO price of ₹93 per share.
Based on today’s grey market premium (GMP), the expected listing price for ixigo’s IPO shares is ₹122 per share, which is approximately 31.18% higher than the issue price.
Ixigo’s IPO received an overwhelming response with an overall subscription rate of 98.10 times. Specifically, it was oversubscribed by 53.95 times in the retail category, 106.73 times in the Qualified Institutional Bidders (QIB) category, and 110.25 times in the Non-Institutional Investors (NII) category.
Ixigo IPO Overview
The ixigo IPO subscription was open from June 10 to June 12. The final allotment of shares took place today, and the company is set to debut on the stock exchange on June 18.
Ixigo offered its IPO at a price range of ₹88 to ₹93 per share, with a lot size of 161 shares. The IPO raised ₹740.10 crore, including ₹120 crore from a fresh issue of 1.29 crore equity shares and ₹620.10 crore from an offer for sale (OFS) of 6.67 crore shares.
Proceeds from the IPO will be used to support working capital requirements, invest in cloud infrastructure and technology, fund potential acquisitions, and for general corporate purposes.
Axis Capital, Dam Capital Advisors Ltd, and JM Financial are the lead managers for ixigo’s IPO, while Link Intime India Private Ltd is the IPO registrar.
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