Know Ixigo IPO GMP Today
| GMP Date | IPO Price | GMP | Sub2 Saudaate | Estimated Listing Price | Last Updated |
| 10-06-2024 Open | 93.00 | ₹23 | 2800/39200 | ₹116 (24.73%) | 10-Jun-2024 11:31 |
About Ixigo IPO
The initial public offering (IPO) of Le Travenues Technology Ltd, which operates travel booking platform Ixigo, will open for subscription on Monday, June 10. The issue will conclude on June 12.
Ixigo allows Indian travellers to plan, book, and manage their trips across rail, air, buses, and hotels. The company’s annual active users stood at 429.38 million, with 49.07 million transactions booked through its OTA platforms in FY23, as of March 31, 2023. The OTA platforms facilitated 42 million transactions during the nine months ending December 31, 2023.
Most analysts believe that the competition will be iixgo’s biggest challenge given players such as EaseMyTrip, MakeMyTrip, Yatra, Flipkart-owned Cleartrip, as well as the likes of Paytm, Amazon, PhonePe and others that have travel ticketing verticals.
- The ixigo trains and Confirmtkt app: These facilitate travel planning and booking by enabling users to search for available train tickets across India, book and pay for tickets, receive tickets through various fulfilment methods, access real-time information on train arrivals and departures, and avail the required post-sales support.
- ixigo-flights mobile app: It allows users to search and book air tickets, train tickets, buses, and hotels. Users can access past and future bookings, check and amend booking details, and request e-tickets and details via messaging platforms.
- Abhibus app: This app allows users to check bus amenities, compare booking prices, check bus schedules on the desired route, and use other facilities.
According to data.ai in September 2023, Ixigo has the highest app usage among OTAs with a cumulative 83 million monthly active users across its apps.
Recently, the company introduced ixigo PLAN, an intelligent travel planner powered by AI. This tool assists travelers in creating detailed itineraries and accessing real-time destination information. Furthermore, the company has unveiled a generative AI plugin that facilitates conversational interactions with ixigo PLAN.
Ixigo website is https://www.ixigo.com/
In fact, travel tech is one of the most competitive spaces in India and the market is still underpenetrated to a large extent given the use of ticketing agents and travel agencies in smaller towns and even large cities for corporate bookings.
Ixigo IPO Details
Ixigo IPO opens for subscription 10 June to 12 June 2024. Ixigo IPO is a book built issue of Rs 740.10 crores. The issue is a combination of fresh issue of 1.29 crore shares aggregating to Rs 120.00 crores and offer for sale of 6.67 crore shares aggregating to Rs 620.10 crores.
ixigo IPO opens for subscription on June 10, 2024 and closes on June 12, 2024. The allotment for the ixigo IPO is expected to be finalized on Thursday, June 13, 2024. ixigo IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, June 18, 2024.
ixigo IPO price band is set at ₹88 to ₹93 per share. The minimum lot size for an application is 161 Shares. The minimum amount of investment required by retail investors is ₹14,973. The minimum lot size investment for sNII is 14 lots (2,254 shares), amounting to ₹209,622, and for bNII, it is 67 lots (10,787 shares), amounting to ₹1,003,191.
Axis Capital, DAM Capital Advisors and JM Financial are the book-running lead managers to the public issue while Link Intime India is the registrar.
Ixigo IPO Details
| IPO Date | June 10, 2024 to June 12, 2024 |
| Listing Date | JUNE 18 |
| Face Value | ₹1 per share |
| Price Band | ₹88 to ₹93 per share |
| Lot Size | 161 Shares |
| Total Issue Size | 79,580,900 shares (aggregating up to ₹740.10 Cr) |
| Fresh Issue | 12,903,226 shares (aggregating up to ₹120.00 Cr) |
| Offer for Sale | 66,677,674 shares of ₹1 (aggregating up to ₹620.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 374,519,945 |
| Share holding post issue | 387,423,171 |
ixigo IPO Subscription Status
ixigo IPO subscribed 1.11 times. The public issue subscribed 3.99 times in the retail category, 0.11 times in QIB, and 1.19 times in the NII category by June 10, 2024 2:15:06 PM.
| Investor Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Rs Cr.)* |
|---|---|---|---|---|
| Anchor Investors | 1 | 3,58,11,405 | 3,58,11,405 | 333.046 |
| Qualified Institutions | 0.11 | 2,38,74,271 | 27,20,578 | 25.301 |
| Non-Institutional Buyers | 1.19 | 1,19,37,134 | 1,42,46,568 | 132.493 |
| bNII (bids above ₹10L) | 0.96 | 79,58,089 | 76,53,940 | 71.182 |
| sNII (bids below ₹10L) | 1.66 | 39,79,045 | 65,92,628 | 61.311 |
| Retail Investors | 3.99 | 79,58,089 | 3,17,47,912 | 295.256 |
| Total ** | 1.11 | 4,37,69,494 | 4,87,15,058 | 453.050 |
Total Application : 1,61,689
ixigo IPO Subscription Details (times)
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 1 Jun 10, 2024 |
0.11 | 1.19 | 3.99 | 1.11 |
Ixigo IPO Financial
On the financial front, the company recorded a net profit of ₹23 crore for the year ended March 2023, against a loss of ₹22 crore in the previous year. Its revenue during the same period rose 32% to ₹501 crore.
The company’s net profit for the nine-month period ended December FY24 rose 252% to nearly ₹66 crore, up from ₹18.7 crore in the corresponding period of previous fiscal. Its revenue for the nine months of FY24 rose 35% to ₹491 crore compared to year-ago period. The net proceeds worth about ₹45 crore from the fresh issue will be utilised to fund the company’s working capital requirements and ₹26 crore will be used for investments in technology as well as data science, including on cloud and server hosting, technology on artificial intelligence and customer engagement.
Additionally, the capital raised will be used to support inorganic growth through acquisitions, and for general corporate purposes.
Should you subscribe or not Ixigo IPO?
Most analysts have recommended subscribing to the Ixigo IPO on the back of its leadership in market share in the online travel segment, industry tailwinds and future growth prospects. Here’s what brokerages have to say about the Ixigo IPO. we believe that Ixigo has a scope of business improvement on the back of industry tailwinds, brand recall and business scalability, resulting in expansion of profitability,” said domestic brokerage firm Anand Rathi.Canara Bank Securities recommended subscribing to Ixigo IPO for investment because of its leadership in market share in the online travel segment and major shift of trends of offline booking to online booking and adding new routes across so as to increase connectivity.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of taaza khabar. We advise investors to check with certified experts before making any investment decisions.
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