On August 12, 2021, Le Travenues Technology Limited, known to many as Ixigo, introduced it’s Initial Public Offering (IPO) to the market. The company aims to raise Rs. 1,600 crores through the IPO, which includes a fresh issue of Rs. 750 crores and an offer for sale of up to Rs. 850 crores.
The IPO aims to fuel the company’s growth ambitions, strengthen its financial position, and create value for its shareholders while also increasing its brand recognition and market presence in the travel industry.
The intent behind the IPO is multifaceted – to fund strategic growth initiatives, bolster brand presence, and facilitate a partial exit for early investors such as Micromax and Elevation Capital.
Ixigo IPO – Important Details
Here are the important details of the IXIGO IPO in a table format:
|IXIGO IPO Date||To be announced|
|IXIGO IPO Listing Date||NA|
|IXIGO IPO Price||NA|
|IXIGO IPO Lot Size||NA|
|IXIGO IPO Total Issue Size||Rs. 1,600 crore|
|IXIGO IPO Basis of Allotment||NA|
|IXIGO IPO Initiation of Refunds||NA|
|IXIGO IPO Credit of Shares to Demat||NA|
|IXIGO IPO Issue Type||Book Built|
|IXIGO IPO Listing At||NSE and BSE|
Le Travenues Technology Limited Company Profile
Established in 2006 by visionaries Aloke Bajpai and Rajnish Kumar, Ixigo swiftly gained traction as a popular online travel agency (OTA). Catering to the diverse needs of travelers, the company’s services span information provision and booking for flights, trains, buses, hotels, and more.
Here’s a snapshot of the company:
- Founders: Aloke Bajpai and Rajnish Kumar
- Established: 2006
- Headquarters: Gurugram, India
- Employees: Over 1,000
- Revenue (FY22): ₹380 crore
- Gross Transaction Value Run Rate: $1 billion
Ixigo IPO Objective
The rationale behind Ixigo’s move to go public was primarily three-fold.
- Fuel Growth Initiatives: Capital raised from the IPO will be channeled toward various growth projects.
- Brand Enhancement: The IPO is expected to enhance brand visibility and prominence.
- Partial Exit for Early Investors: Micromax and Elevation Capital partially exited their investment in the company through the IPO.
Ixigo IPO Risks And Challenges
In the dynamic realm of travel and tourism, Ixigo faces certain risks and challenges. The sector is cyclical and susceptible to fluctuations brought about by economic slowdowns, political instability, and natural disasters.
Moreover, the online travel market is fiercely competitive, with players like MakeMyTrip and Goibibo commanding significant market share.
Another concern that investors might have is the company’s financial health. Ixigo has been incurring losses, and it remains uncertain when the company will turn profitable.
Le Travenues Technology Ltd Financial Information
|Particular||As at March 31, 2019||As at March 31, 2020||As at March 31, 2021|
|Revenue (in million)||426.54||1,129.58||1,384.06|
|Equity (in million)||-1,993.83||-2,250.46||299.38|
|Expenses (in million)||1,000.07||1,395.69||1,356.99|
|Profit and Loss After Tax||-2,140.82 million||-1,386.99 million||1,608.11 million|
|Diluted EPS only (₹)||-1.98||-1.84||0.74|
|NAV per Equity Share (₹)||-2757.23||-3111.07||413.56|
|Total Assets (in million)||603.80||701.26||1,813.38|
|Total Liabilities (in million)||2,597.63||2,951.72||1,514.00|
Le Travenues Technology Ltd – Industry & Market Potential
The travel and tourism industry in India is poised for impressive growth, with an estimated Compound Annual Growth Rate (CAGR) of 10.5% forecasted from 2022 to 2027. Specifically, the online travel market is projected to grow at an even steeper CAGR of 25% within the same period.
In the midst of this promising landscape, Ixigo shines as a market leader in the OTA segment, commanding a market share of over 25%. The company competes with well-known brands such as MakeMyTrip, Goibibo, and ClearTrip, but its comprehensive and user-friendly offerings help it stand out.
Key Industry Insights:
- Indian Travel & Tourism Industry CAGR (2022-2027): 10.5%
- Indian Online Travel Market CAGR (2022-2027): 25%
- Ixigo’s Market Share: Over 25%
- Key Competitors: MakeMyTrip, Goibibo, ClearTrip
Le Travenues Technology Ltd IPO- Type of Offer
The Ixigo IPO consists of a fresh issue of 750 crore shares and an offer for sale of 850 crore shares, making it a mixed offering. This meant that new shares were issued while existing shares were also put up for sale.
Le Travenues Technology Ltd (Ixigo) IPO Offer Size
The offer size of the IPO is quite substantial. The offer size of Ixigo IPO is ₹1,600 crores. The sheer size of the offer underlines the scale at which Ixigo operates and its ambitions for future growth.
Ixigo IPO Allotment Structure
The allotment structure of the IPO is strategically designed to appeal to a wide array of investors. A chunk of the shares, approximately 50%, is reserved for institutional investors. Another 35% of the shares are set aside for non-institutional investors. The remaining 15% was earmarked for individual retail investors.
- Institutional Investors: 50% of the shares
- Non-Institutional Investors: 35% of the shares
- Retail Individual Investors: 15% of the shares
How to apply for the Ixigo IPO?
- Click the link to log in to the IPO console.
- Select the IPO you wish to apply for from the list of open issues.
- Once you have selected your preferred IPO, you can view all the details such as the issue open date, closing date, issue size, price, market lots, etc.
- Enter the UPI ID linked to your personal bank account. The application may be subject to rejection if the applicant’s identity differs from the individual linked to the bank account used for the application.
- When placing bids, only quantities that are multiples of the lot size are allowed. If you want to apply at the cut-off price, simply click the text box next to the ‘cut-off’ price. If you wish to place a bid at a different price, enter the desired price in the ‘Price’ field.
- After completing all the steps, read the declaration and click ‘Submit’.
Additional Steps to Follow:
- After submitting the request, you will receive a mandate request on your UPI application. Accept the mandate request. Sometimes, it may take a few hours to receive the request. This action will reserve the required amount for the application until the allotment date. If the quantity is allotted, the funds will be debited from your bank account, and the shares will be credited to your demat account at Alice Blue.
- Upon submitting the IPO bid request, you will receive an SMS from the exchange to confirm your application.
- To check the status of your application, you can select the applied IPO, and you will be able to see the most recent bids updated in your application.
- If you do not receive an allotment, the blocked funds will be released on the allotment date. The list of IPOs can also be viewed on the NSE website.
How to Check Ixigo IPO Allotment Status
To verify the IPO allotment status for your PAN number: Once your allotment is confirmed, you will receive a confirmation email from the respective RTA. Simultaneously, you will also receive an email confirmation from Alice Blue if you applied for the IPO through the Alice Blue portal.
Visit the Link Intime page to determine the status of the allotted IPO.
If you face any issues, it’s recommended to contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Ixigo IPO:
- Registrar’s Website: Visit the website of Link Intime India Private Limited, the registrar of the Ixigo IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN and application number or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
- NSE and BSE: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.
Le Travenues Technology Ltd Offer Registrar
The responsibility for the overall IPO process and subsequent share transfer was assigned to a highly reputable registrar, Link Intime India Private Limited. The registrar’s main duties included IPO application collection, allotment of shares, and refund processing.
Ixigo IPO FAQs
What Is The Name Of Ixigo Ipo?
Ixigo’s IPO is called “Le Travenues Technology Ltd” IPO.
What Is The Size Of Ixigo Ipo?
Ixigo’s IPO is ₹1,600 crores (approximately $200 million). The IPO will fund the company’s growth initiatives, including expanding its product offerings, investing in technology, and expanding its marketing efforts.
What Is The Market Share Of Ixigo In India?
Ixigo has a market share of over 40% in India’s online travel market. The company is the leading online travel agency in India, and it offers a wide range of travel products and services, including flights, trains, buses, hotels, and car rentals.
Who Owns Ixigo?
Ixigo is owned by investors, including Saif Partners, Elevation Capital, and Micromax Informatics. Saif Partners is a venture capital firm that invests in technology companies in India and Southeast Asia. Elevation Capital is a venture capital firm that invests in technology companies in India. Micromax Informatics is a mobile phone manufacturer in India.
Is Ixigo A Startup Company?
Ixigo is not a startup company. It was founded in 2007 and has been operating for over 15 years. However, the company is still considered to be a growth company. It is growing rapidly and is expected to continue to grow.
Is Ixigo A Profitable Company?
Ixigo is a profitable company. It has been profitable for the past 5 years. The company’s profitability is due to its strong market share, its efficient operations, and its focus on customer service.