Le Travenues Technology Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Le Travenues Technology Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹93
Per ShareLot Size
161 Shares
Minimum Investment
₹14,973
Issue Size
₹740.1 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Le Travenues Technology Ltd
Business model, operations, and market positioning.
Issue Type
Book Building
ISIN
INE0HV901016
About the Company
Le Travenues Technology Limited is a technology company focused on empowering Indian travelers to plan, book and manage their trips across rail, air, buses and hotels. The Company assists travelers in making smarter travel decisions by leveraging artificial intelligence, machine learning and data science led innovations on its OTA platforms, comprising its websites and mobile applications. Travelers can book train, flight and bus tickets and hotels, while accessing utility tools and services including train PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, bus running status, personalized recommendations, instant fare alerts and automated customer support services.
Industry Overview
The total Indian travel market as represented by modes of air, rail, road and hotel is estimated at around Rs. 3.8 trillion in Fiscal 2023 and expected to grow at a CAGR of around 9% to reach Rs. 5.8 trillion by Fiscal 2028. As of Fiscal 2023, the `next billion users' travel market is estimated to be approximately 90% of the train and bus segment each, and between 50% - 55% of the flights and hotels segment. This weighed in at over 60% - 65% of the overall travel market in 2023.
Company History
Le Travenues Technology Limited was incorporated on June 3, 2006 as a private limited company under the Companies Act 1956, with the name "Le Travenues Technology Private Limited", pursuant to a certificate of incorporation granted by the Registrar of Companies, National Capital Territory of Delhi and Haryana situated at New Delhi. Further to the conversion of the Company to a public limited company and as approved by its Shareholders pursuant to a special resolution dated July 29, 2021, the name of the Company was changed to "Le Travenues Technology Limited" and the Registrar of Companies, Delhi and Haryana ("RoC") issued a fresh certificate of incorporation on August 3, 2021.
Products & Services
- Le Travenues Technology Limited is a technology company focused on empowering Indian travelers to plan, book and manage their trips across rail, air, buses and hotels.
Growth Strategy
- Continue to deepen penetration and enhance its offerings for the `next billion user' market segment.
- Increase monetization through cross-selling and up-selling.
- Improve operating leverage through investment in deep tech and artificial intelligence.
- Drive value creation through selective strategic partnerships and acquisitions.
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 79,580,899 equity shares of face value of Re. 1 each (the "Equity Shares") of Le Travenues Technology Limited ("Company" or "Issuer") for cash at a price of Rs. 93.00 per equity share (the "Offer Price") aggregating to Rs. 740.10 crores (the "Offer") comprising a fresh issue of 12,903,225 equity shares aggregating to Rs. 120.00 crores (the "Fresh Issue") and an offer for sale of up to 66,677,674 equity shares aggregating to Rs. 620.10 crores (the "Offer for Sale"), comprising an offer for sale of 19,437,465 equity shares aggregating to Rs. 180.77 crores by Saif Partners India IV Limited, 13,024,000 equity shares aggregating to Rs. 121.12 crores by Peak XV Partners Investments V (formerly known as SCI Investments V), 11,950,000 equity shares aggregating to Rs. 111.14 crores by Aloke Bajpai, 11,950,000 equity shares aggregating to Rs. 111.14 crores by Rajnish Kumar, 5,486,893 equity shares aggregating to Rs. 51.03 crores by Micromax Informatics Limited, 3,048,375 equity shares aggregating to Rs. 28.35 crores by Placid Holdings, 1,333,513 equity shares aggregating to Rs. 12.40 crores by Catalyst Trusteeship Limited (erstwhile Milestone Trusteeship Services Private Limited) as the Trustee of Madison India Opportunities Trust Fund and 447,428 equity shares aggregating to Rs. 4.16 crores by Madison India Capital HC (collectively, the "Selling Shareholders", and such equity shares, the "Offered Shares"). The offer shall constitute 20.54% of the post-offer paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Leading online travel agency ("OTA"), with significant penetration in the underserved ext billion user' market segment.
- Artificial intelligence ("AI") and technology driven operations .
- Established consumer travel brands built with user-first approach Established consumer travel brands built with user-first approach.
- Diversified business model with significant operating leverage and organic flywheel.
- Experienced management team with lean organization structure.
- The Offer Price, market capitalization to revenue multiple and price to earnings ratio based on the Offer Price of the Company, may not be indicative of the market price of the Company on listing or thereafter.
- The company originally commenced operations as a meta search website and subsequently transitioned to become an OTA. The company has limited experience of operating as an OTA. Its market share of the overall OTA market by GTV was 6.52% and 5.88% in the nine months ended December 31, 2023 and December 31, 2022, respectively, while it was 6.01%, 11.72% and 9.24% in Fiscal 2023, 2022 and 2021, respectively, (Source: F&S Report) on account of its limited operating history as an OTA.
- Its train ticketing services depends on its agreement with IRCTC. The termination of the company agreement with IRCTC could preclude it from undertaking its train ticketing services and could otherwise have a material adverse effect on its results of operations, cash flows, financial condition and business prospects.
- Its arrangement with IRCTC is on a non-exclusive basis and IRCTC may engage with other distribution partners including its competitors.
- Any failure to maintain satisfactory performance of its technology infrastructure, including the company OTA platforms, particularly those leading to disruptions in its services, could materially and adversely affect the company's business and reputation, and its business may be harmed if its technology infrastructure or technology is damaged or otherwise fails or becomes obsolete.