Le Travenues Technology, the company behind the travel tech platform Ixigo, is set to launch its initial public offering (IPO) from June 10 to June 12.
The IPO consists of a fresh equity sale of ₹120 crore and an offer for sale (OFS) of up to 6.66 crore shares. Stakeholders like SAIF Partners, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, and Placid Holdings will sell part of their stakes in the OFS.
The offering follows a book-building process, with 75% of the IPO reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 10% for retail investors.
Proceeds from the IPO will fund working capital requirements, investments in technology, support inorganic growth through acquisitions, and other corporate purposes.
Ixigo is a travel technology company helping Indian travelers plan, book, and manage trips across rail, air, buses, and hotels. It uses artificial intelligence, machine learning, and data science to assist travelers in making smarter travel decisions.
Axis Capital, DAM Capital, and JM Financial are the book-running lead managers, with Link Intime India acting as the registrar.
For the nine months ending December 2023, the company saw a 31% year-on-year increase in revenue from operations to ₹497 crore, with net profit reaching ₹65.7 crore.
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