Ixigo Parent IPO Subscribed 9.31 Times On Day 2

The initial public offering of Le Travenues Technology Ltd., the parent company of online travel agency Ixigo, entered its second day on Tuesday. Investors are enthusiastic about the offering, which received bids for almost twice its size on the opening day. Retail investors led demand on the first day.

The company plans to raise Rs 740.1 crore through its IPO—a mix of fresh issue of 1.29 crore shares worth Rs 120 crore and an offer for sale of 6.67 crore shares amounting to Rs 620.1 crore. The price band for the IPO is set between Rs 88 per share and Rs 93 per share.

The minimum lot size for retail investors is 161 shares, requiring an investment of at least Rs 14,973. For small, non-institutional investors, the minimum lot size is 14 lots (2,254 shares), amounting to Rs 2.09 lakh. The minimum lot size for big non-institutional investors is 67 lots (10,787 shares), totaling over Rs 10 lakh.

It had raised Rs 333 crore from anchor investors ahead of its IPO. The company will list on both the NSE and BSE pos- IPO, which will close on June 12. The allotment is expected to be finalised on June 13, and the tentative listing date is June 18.

Issue Details

• Issue opens: June 10.

• Issue closes: June 12.

• Issue price: Rs 88 to 93 per share.

• Fresh issue: Rs 120 crore.

• Offer for sale: Rs 620 crore.

• Total issue size: Rs 740.1 crore.

• Bid lot: 161 shares.

• Listing: BSE and NSE.

Business

Ixigo offers a range of travel services, including passenger name record  status and confirmation predictions, train seat-availability alerts, train running status updates, delay predictions, alternative route planning, flight status updates, automated web check-in, bus running status check, price and availability alerts, deal discovery, destination content, personalised recommendations, instant fare alerts for flights, artificial intelligence-based travel planning, and automated customer support.

Ixigo's online platforms include:

• Ixigo trains and ConfirmTkt app: Facilitates train ticket search, booking, payment, and real-time train information. Tickets are delivered via email, SMS, and WhatsApp, with post-sales support.

• Ixigo mobile app: Allows booking of air tickets, train tickets, buses, and hotels, accessible on Android and iOS. Users can manage bookings and request e-tickets through messaging platforms.

• AbhiBus app: Provides bus amenities, price comparisons, schedules, and other facilities through the website and mobile app.

Subscription Status: Day 2

The IPO has been subscribed 9.31 times as of 5 p.m. on Tuesday.

• Institutional investors: 0.79 times or 79%.

• Non-institutional investors: 20.11 times.

• Retail investors: 18.66 times.

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