Ixigo's Voyage to the Stock Market: A Journey of Growth and Opportunity
June 8, 2024, 9:31 am
Location: India, Haryana, Gurugram
Employees: 201-500
Founded date: 2006
Total raised: $21.08M
Le Travenues Technology Limited, the mastermind behind the popular travel booking platform Ixigo, is on the brink of a significant milestone as it prepares to make its debut on the stock exchanges on June 10th. The company has set the price band for its shares at Rs 88-93, with a pre-IPO secondary placement of Rs 176.2 crore ($21 million) at the top-end price of Rs 93.
In a strategic move, early investor SAIF Partners decided to sell 1,07,52,689 shares worth Rs 100 crore ($12 million) to Ashoka India, Tata Multi Asset, and Bay Capital. Similarly, PeakXV divested its 6,989,248 shares valued at Rs 65 crore ($7.8 million) to Bay Capital and Steadview Holding. Micromax and Madison India also participated in the pre-IPO secondary round by selling their 12,05,268 shares to Steadview Capital for Rs 11.2 crore ($1.3 million).
Following these transactions, SAIF Partners is expected to retain a 20.52% stake in Ixigo, while Peak XV and Micromax will hold 13.81% and 5.52% respectively. The company's co-founders, Aloke Bajpai and Rajnish Kumar, will collectively maintain a 16.65% ownership in the venture.
Financial analysis indicates that SAIF Partners and Peak XV stand to gain impressive returns of 13X and 8.2X, respectively, from their investments in Ixigo. Micromax Limited is also poised to benefit from a substantial 10.88X return on its stake in the Gurugram-based company.
Investors and enthusiasts alike can mark their calendars for the public offering period, which is scheduled to run from June 10th to June 12th. Retail investors will have a minimum lot size of 161 shares, while small non-institutional investors can participate with a minimum lot size of 14 shares.
Ixigo's performance in the previous fiscal year (FY24) showcased robust growth, with operating revenue reaching Rs 491 crore and a commendable profit of Rs 65.7 crore during the same period. The company's trajectory signals a promising future as it embarks on this new chapter of going public.
As the countdown to Ixigo's stock market debut begins, investors and industry observers are eagerly anticipating the opportunities and potential that lie ahead in this exciting journey of growth and expansion. Get ready to embark on the Ixigo wave as it sets sail into the world of stock trading!
In a strategic move, early investor SAIF Partners decided to sell 1,07,52,689 shares worth Rs 100 crore ($12 million) to Ashoka India, Tata Multi Asset, and Bay Capital. Similarly, PeakXV divested its 6,989,248 shares valued at Rs 65 crore ($7.8 million) to Bay Capital and Steadview Holding. Micromax and Madison India also participated in the pre-IPO secondary round by selling their 12,05,268 shares to Steadview Capital for Rs 11.2 crore ($1.3 million).
Following these transactions, SAIF Partners is expected to retain a 20.52% stake in Ixigo, while Peak XV and Micromax will hold 13.81% and 5.52% respectively. The company's co-founders, Aloke Bajpai and Rajnish Kumar, will collectively maintain a 16.65% ownership in the venture.
Financial analysis indicates that SAIF Partners and Peak XV stand to gain impressive returns of 13X and 8.2X, respectively, from their investments in Ixigo. Micromax Limited is also poised to benefit from a substantial 10.88X return on its stake in the Gurugram-based company.
Investors and enthusiasts alike can mark their calendars for the public offering period, which is scheduled to run from June 10th to June 12th. Retail investors will have a minimum lot size of 161 shares, while small non-institutional investors can participate with a minimum lot size of 14 shares.
Ixigo's performance in the previous fiscal year (FY24) showcased robust growth, with operating revenue reaching Rs 491 crore and a commendable profit of Rs 65.7 crore during the same period. The company's trajectory signals a promising future as it embarks on this new chapter of going public.
As the countdown to Ixigo's stock market debut begins, investors and industry observers are eagerly anticipating the opportunities and potential that lie ahead in this exciting journey of growth and expansion. Get ready to embark on the Ixigo wave as it sets sail into the world of stock trading!