Ixigo (Le Travenues Technology Limited) IPO: Size, Shareholding, Price & Issue Date

We can see Ixigo IPO possibly in 2023. Ixigo is a brand, but the actual company name is Le Travenues Technology Limited.

As per the Draft Red Herring Prospectus (DRHP) filed with SEBI, the company does not have any identifiable promoters. 

Ixigo’s IPO of Rs. 1600 crores has two parts – First they are issuing equity shares aggregating up to Rs. 750 crores, and along with that there is an offer for sale (OFS) component aggregating to Rs. 850 crores

The face value of each Le Travenues Technology Limited equity share is Rs. 1 each. 

The book-running lead managers of the public offering are –

  • Axis Capital Limited, 
  • Kotak Mahindra Capital Company Limited, 
  • Nomura Financial Advisory and Securities and 
  • ICICI Securities Limited

The registrar for the issue is Link Intime India Private Limited.

Here is the list of other companies that are coming out with an IPO.

Le Travenues Technology Limited IPO Details

The company is in the process of getting approval from SEBI for the IPO. Details regarding the IPO will be updated when Ixigo will file RHP.

ParticularsDetails
IPO Opening date(To be updated soon)
IPO Closing date(To be updated soon)
IPO PriceRs. xx to Rs. xx (To be updated soon)
Lot sizexx shares (To be updated soon)
Issue sizeRs. 1600 Cr
No. of fresh sharesXx shares aggregating to Rs. 750 crores
Offer for Sale XX shares aggregating to Rs. 850 crores
Listing onBSE and NSE

Le Travenues Technology Limited IPO Timetable

The timetable regarding the IPO will be updated when Ixigo comes out with the IPO.

ParticularsDetails
IPO Opening date(To be updated soon)
IPO Closing date(To be updated soon)
Basis of Allotment date(To be updated soon)
Credit of Share (To be updated soon)
Listing date (To be updated soon)

Le Travenues Technology Limited Overview

Ixigo is a technology company focused on empowering Indian travelers to plan, book and manage their trips across rail, air, buses and hotels. 

Le Travenues Technology assists travelers in making smarter travel decisions by leveraging artificial intelligence (AI), machine learning and data science-led innovations on its OTA platforms. The booking platform comprises websites and mobile applications.

It is the largest Indian OTA in the online train bookings segment. Ixigo Trains and ConfirmTkt were collectively the leading B2C distribution platforms for IRCTC with a 42% market share. 

Their bus-focused app, AbhiBus, was the second largest bus-ticketing OTA in India, with a 10% market share in online bus ticket bookings, in Fiscal 2021. 

Ixigo is also the third largest flight OTA in India with a market share of 12% in online air bookings. 

Overall they have the highest app usage among OTAs with 37.48 million users.

Le Travenues Technology’s revenue from operations has grown at a CAGR of 83.26% between Fiscal 2019 and Fiscal 2021.

Check here for other salary investment options available to you.

Le Travenues Technology Limited GMP

Grey Market Price (GMP) information is available approximately 4-5 days before the IPO opens and persists until the listing date. 

For Le Travenues Technology Limited Ltd IPO, we have already obtained GMP data for the past 3 days, which should provide a reasonable indication of price upon listing.

GMP serves as an effective reflection of the true narrative surrounding a stock. But you need to take precautions because GMP is not an official price and only an indicative value.

Below is a brief summary of the GMP for Le Travenues Technology Limited Ltd for the last 4 days obtained from various sources on the internet.

DateGMP
2023Rs. xx (To be updated soon)
2023Rs. xx (To be updated soon)
2023Rs. xx (To be updated soon)
2023Rs. xx (To be updated soon)

Le Travenues Technology Limited Subscription Data

Information regarding subscriptions will be available when the IPO gets open.

DateQIBNIIRetailEmployeeTotal
Day – 1 2023
Day – 22023
Day – 32023

Le Travenues Technology Limited Promoter Details

As per the Draft Red Herring Prospectus (DRHP) filed with SEBI, the company does not have any identifiable promoters. 

Le Travenues Technology Limited Financials

Key financials of Le Travenues Technology Limited Ltd for the last 3 completed financial years is under. These include the fiscal years FY21, FY20 and FY19.

DetailsFY- 2021FY- 2020FY- 2019
Revenue from operationsRs. 135.5 crRs. 111.6 crRs. 40.3 cr
Total expensesRs. 135.7 crRs. 139.6 crRs. 100 cr
Net Profit / (Loss)Rs. 7.5 crRs. – 26.6 crRs. – 57.3 cr
NAV per equity sharesRs. 413.56Rs. – 3111.07Rs. – 2757.2
Return on net-worth24.14%
EPSRs. 99.25Rs. -367.88Rs. – 793.12

Ixigo’s revenue from operations is increasing year-on-year from Rs. 40.3 cr to Rs. 135.5 cr in 2021. But there were losses in FY 2019 & 2020.

You may find here in-depth techniques of financial statement analysis.

Le Travenues Technology Limited Peer Comparison

There are no listed companies in India that engage in a business similar to that of Le Travenues Technology Limited. 

Accordingly, it is not possible to provide an industry comparison with similar listed entities’ peers.

Le Travenues Technology Limited Objects of the Issue

Le Travenues Technology Limited proposes to utilize the Net Proceeds from the Issue for –

#1. Organic Growth Initiatives 

Ixigo has historically incurred and intends to continue to incur significant expenses toward organic growth initiatives. 

This includes expenses for –

  • discounts and other promotional incentives
  • sales, marketing and distribution expenses
  • investments in the development of technology infrastructure

#2. Inorganic Growth 

Through acquisitions and other strategic initiatives. In the past, Ixigo has benefited significantly from the acquisitions undertaken. 

For example, it has agreed to purchase the entire issued and paid-up share capital of Confirm Ticket from its existing shareholder. 

Also as of July 2021, Ixigo acquired the business of AbhiBus relating to its website and apps for booking of bus, train and hotel rooms in India. 

#3. General Corporate Purposes

The company intends to use up to 25% of the net proceeds from the Fresh Issue for “General corporate purposes”.

Le Travenues Technology Limited Tentative Issue size

Rs. 1600 crores. (Will be updated later) 

Le Travenues Technology Limited Limited IPO: Should You Apply?

Le Travenues Technology is a market leader with deep penetration in the underserved ‘next billion users’ segment. It has a strong consumer travel brand built with a user-first approach. 

They have the highest app usage among OTAs with 37.48 million users.

It focuses on AI and technology-driven operations with strong unit economics with high operating leverage and organic flywheel. The company has an experienced management team with a lean organizational structure. 

Le Travenues Technology’s revenue from operations has grown at a CAGR of 83.26% between Fiscal 2019 and Fiscal 2021.

But they have losses in the last two financial years and a negative return on net worth. 

About Rajan Dhawan

Rajan has covered personal finance and investing for over 5 years. Previously, he was in the IT field for 8 years after completing his MCA but his deep interest in personal finance led him to become an investing expert. He is passionate about investing, stocks, startups, and cryptos.

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