IXIGO IPO to Hit Streets on June 10

SENSEX 78041.59 -1176.45 (-1.51)

NIFTY 50 23587.5 -364.2 (-1.54)

GOLD 78145 565 (0.72)

SILVER 93500 -1000 (-1.07)

NASDAQ 19572.6 199.83 (1.02)

FTSE 8084.61 -20.71 (-0.26)

Nikkei 38701.9 -111.68 (-0.29)

Crude 5944 5 (0.08)

USD/INR 84.95 0.01 (0.01)

EURO 88.6 0.25 (0.28)

POUND 106.83 0.07 (0.07)

YEN 0.54 -0.01 (-1.85)

IXIGO IPO to Hit Streets on June 10

June 6th, 2024 News

Ixigo's IPO, valued at around ₹740 crores, is poised to debut on Dalal Street on June 10. The offering includes an approximate ₹620 crores Offer for Sale (OFS).

Topic to be covered:

IPO Overview
Aim of the issues
IPO Reservation
Lead Manager & Registrar
About Company
Financial Performance
Comparison of KPIs with Listed Industry Peers. (Financial Performance)
Conclusion

In an eagerly awaited move, Le Travenues Technology, the parent company of the popular travel tech platform Ixigo, has announced its plans to debut on the stock market through an initial public offering (IPO).

IPO Overview:
Ixigo's IPO, worth Rs. 740.10 crores, is a book-built issue consisting of a fresh issue of 1.29 crore shares (Rs. 120.00 crores) and an offer for sale of 6.67 crore shares (Rs. 620.10 crores).

Subscription opens on June 10, 2024, closing on June 12, 2024, with allotment expected by June 13, 2024. Tentative listing on BSE and NSE is set for June 18, 2024

Price band: ₹88-93 per share. Retail investors can apply for a minimum lot size of 161 shares (₹14,973). NII minimum lot sizes: sNII - 14 lots (2,254 shares, ₹209,622); bNII - 67 lots (10,787 shares, ₹1,003,191).

Aim of the issues:
The proceeds from the public offer will be directed towards funding working capital requirements, investments in cloud infrastructure and technology, supporting inorganic growth through acquisitions, and other strategic initiatives, along with general corporate purposes.

IPO Reservation:

Investor Category	Shares Offered
QIB Shares Offered	Not less than 75.00% of the Net offer
Retail Shares Offered	Not more than 10.00% of the Offer
NII (HNI) Shares Offered	Not more than 15.00% of the Offer

Lead Manager & Registrar

Lead Manager	Registrar
Axis Capital	Link Intime India
Dam Capital
JM Financial

About Company:
Le Travenues Technology Limited, founded in 2006, operates under the brand name "ixigo" as an online travel agency (OTA). It offers a wide range of services, including booking train, flight, and bus tickets, as well as hotels.

Their OTA platforms, such as ixigo trains and Confirmtkt app, provide various features like PNR status predictions, train seat availability alerts, and real-time train running status updates.

Additionally, their ixigo-flights mobile app allows users to book air tickets, train tickets, buses, and hotels, with past and future booking management features.

The company's Abhibus app facilitates bus bookings and comparisons. With 83 million monthly active users across its apps, ixigo holds the highest app usage among OTAs.

Recently, ixigo launched ixigo PLAN, an AI-based travel planner, and ixigo Assured Flex, a value-added service for flexible air and rail ticket purchases. As of December 31, 2023, the company employed 486 full-time employees and 4 consultants.

Financial Performance

Key performance indicators	Q3 FY24	Q4 FY23	Q4 FY22
Assets	Rs.678.71 crores	Rs.585.93 crores	Rs.538.47 crores
Profit After Tax	Rs.65.71 crores	Rs.23.40 crores	– Rs.21.09 crores(loss)
Revenue	Rs.497.10 crores	Rs.517.57 crores	Rs.384.94 crores

Comparison of KPIs with Listed Industry Peers.

Key performance indicators	Le Travenues Technology Limited	Easy Trip Planners Limited	Yatra Online Limited
Monthly Active Users	62.83	NA	NA
Gross Transaction Value	74,524.30	NA	NA
Revenue from Operations	5,012.50	4,488.26	3,801.60
Gross Revenue	6,405.47	6,749.10	5,999.42
EBITDA	450.45	1,913.00	510.88
EBITDA %	8.99%	41.20%	13.44%

(Amount in Million)

Source: Details for industry peers have been sourced from the F&S Report
Disclaimer: The comparison is not a recommendation to invest/ disinvest in any entity, including our Company, and should not be construed as investment advice within the meaning of any law or regulation, or used as a basis for any investment decision.

Conclusion:
As one of India's fastest-growing OTAs, Ixigo's IPO represents a significant milestone in its journey towards becoming a leading player in the travel tech industry. With its innovative solutions and impressive financial performance, the company is poised to attract considerable investor interest as it embarks on this new chapter.

Disclaimer: For educational purposes only. Not investment advice. Conduct your own analysis or seek professional advice before investing.