Should You Apply for ixigo IPO? Latest Updates on GMP and Subscription

ixigo IPO Day 3: What You Need to Know

The initial public offering (IPO) of ixigo’s parent company, Le Travenues Technology Limited, opened on June 10, 2024, and will close on June 12, 2024. Investors have just one day left to apply. The IPO has seen a strong response so far. Market observers note that despite a steady secondary market, ixigo shares are trading at a ₹25 premium in the grey market today, up from ₹24 yesterday.


ixigo IPO Grey Market Premium (GMP)

Today, the GMP for ixigo IPO is ₹25, showing steady interest from investors even with the secondary market’s volatility. This is a positive sign for the IPO.

ixigo IPO Subscription Status

After two days, the IPO has been subscribed 9.33 times overall. The retail segment is subscribed 18.73 times, the NII segment 20.14 times, and the QIB portion 0.79 times.

Expert Reviews on ixigo IPO

Both BP Equities and Ajcon Global Services have recommended subscribing to the ixigo IPO.

BP Equities’ View:

  • Financial Performance: Revenue/EBITDA/PAT grew significantly from FY2021-23.
  • Valuation: Despite high valuations, the platform’s business nature and market opportunity suggest strong future growth.

Ajcon Global Services’ View:

  • Valuation: The issue is reasonably priced considering future earnings potential.
  • Key Strengths:
    1. Strong market share in various segments.
    2. Leading OTA for mobile app users.
    3. Advanced and scalable technology platforms.
    4. Comprehensive product and service offerings across trains, flights, buses, and hotels.
    5. High revenue per employee.
    6. Leading monthly active users and session rates.
    7. Growth potential in India’s travel industry.
    8. Increasing travel and internet infrastructure in India.
    9. Investment in multiple apps for a personalized user experience.

Given these factors, Ajcon Global Services also suggests subscribing to the IPO.

Conclusion: With strong subscription numbers, positive grey market sentiment, and expert recommendations, the ixigo IPO looks promising. Consider applying before the window closes on June 12, 2024.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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