Ixigo Parent Le Travenues Fixes IPO Price Band At Rs 88–93 Apiece

Le Travenues Technology Ltd., the operator of the travel booking platform Ixigo, has set the price band for its initial public offering at Rs 88 to 93 per share. The IPO consists of a fresh issue of equity shares worth Rs 120 crore and an offer for sale of 6.66 crore equity shares by existing shareholders.

The minimum lot size will be 161 shares, with further bids to be made in multiples thereof, according to the price band advertisement released by the company on Wednesday.

SAIF Partners India IV Ltd., Peak XV Partners Investments V, Micromax Informatics Ltd., Placid Holdings, Catalyst Trusteeship Ltd., Madison India Capital HC, Aloke Bajpai and Rajnish Kumar will be selling shares through the offer for sale.

The maiden share sale will begin on June 10 and continue till June 12. The anchor portion of the offer will open on June 7, it said.

The travel planner filed its preliminary IPO papers with SEBI in February and March and obtained their observations during May 14–17.

Axis Capital Ltd., DAM Capital Advisors Ltd., JM Financial Ltd. will be the book-running lead managers for the issue.

Business 

The Gurugram-based Le Travenues Technology helps travellers plan, book and manage their trips across rail, air, buses and hotels.

The company's total income rose to Rs 517 crore in the financial year ended March 2023 from Rs 385 crore in the preceding fiscal. The firm logged a profit of Rs 23.4 crore for the year ended March 2023, whereas it had a loss of Rs 21 crore in the previous financial year.

Proceeds worth Rs 45 crore from the fresh issue will be used to fund the company's working capital requirements and Rs 26 crore will be utilised for investments in technology as well as data science, including cloud and server hosting, technology on artificial intelligence and customer engagement.