Ixigo IPO Review

Ixigo IPO

Ixigo or Le Travenues Technology Limited’s IPO consists of a fresh issue of INR 120 crores and an offer to sell 66.77 lakh shares. The company aims to finance working capital, invest in cloud infrastructure, and pursue growth through strategic acquisitions. 

Ixigo IPO  – Important Dates 

Ixigo IPO DateYet to be announced
Ixigo IPO Listing DateYet to be announced
Ixigo IPO PriceYet to be announced
Ixigo IPO Lot SizeYet to be announced
Ixigo IPO Total Issue SizeNA
Ixigo IPO Basis of AllotmentYet to be announced
Ixigo IPO Initiation of RefundsYet to be announced
Ixigo IPO Credit of Shares to DematYet to be announced
Ixigo IPO Issue TypeBook Built Issue IPO
Ixigo IPO Listing AtBSE, NSE 

Le Travenues Technology Limited  – Company Profile 

Le Travenues Technology Limited empowers Indian travelers to plan, book, and manage trips via rail, air, buses, and hotels through AI, ML, and data science innovations on their OTA platforms, enhancing travel decisions for more imaginative journeys. 

They aim to be the top customer-centric travel company, focusing on the ‘following billion user’ market with tech-driven innovation. Their OTA platforms offer seamless booking and enriched travel experiences through proprietary algorithms and crowd-sourced data.

Starting as a travel metasearch engine and transitioning into a utility platform and OTA, they have utilized organic traffic and strategic marketing efforts to attract millions of first-time bookings from fiscal years 2021 to 2023. 

Ixigo IPO  Review 

Ixigo’s financial analysis reveals a mixed performance. While there are positive signs such as growth in equity and assets, concerns arise from declining profitability, liquidity challenges, and fluctuating financial ratios. Potential investors should conduct thorough due diligence before considering investment in the IPO. 

  • Revenue Trend: The revenue increased from ₹3,795.80 million in March 2022 to ₹5,012.50 million in March 2023. The revenue for the current year’s 9-month period ending December 2023 is INR 4,910.21 million.
  • Equity and Liabilities: Both equity and total liabilities have consistently increased over the periods, reflecting potential growth and expansion. 
  • Profitability: The profit after tax (PAT) has significantly increased from ₹1(201.94) million in March 2022 to ₹657.12 million by December 2023.This increase in profitability could be a reassurance for investors. 
  • Earnings per Share (EPS): The diluted EPS has risen from ₹(0.66) in March 2022 to ₹1.75 by December 2023, reflecting higher earnings per share for investors.
  • Return on Net Worth (RoNW): The RoNW has increased from (7.15)% to 5.74%, indicating an increase in the company’s ability to generate returns on shareholder equity.
  • Financial Position: Total assets have increased, suggesting potential business growth. 

Ixigo IPO Fundamental Analysis 

ParticularAs of 31 March 2022As of 31 March 2023As of 31 December 2023
Revenue (₹ in millions)3,795.805,012.504,910.21
Equity (₹ in millions)3,426.863,871.194,371.27
Expenses (₹ in millions)4,025.414,842.924,754.83
Profit and Loss After Tax (₹ in millions)(201.94)233.96657.12
Diluted EPS only (₹)(0.66)0.571.75
Return on Net Worth (%)(7.15)5.7415.26
NAV per Equity Share (₹)9.299.7911.43
Total Assets (in millions)5,384.715,859.256,787.07
Total Liabilities (in millions) 1,957.851,988.062,415.81

Le Travenues Technology Limited IPO Peer Comparison 

Le Travenues Technology Limited’s strong performance in revenue and profitability among the listed companies, while Easy Trip Planners Limited displays strong earnings with a high P/E of 61.83. Yatra Online Limited exhibits high income but modest EPS and RoNW. 

CompanyTotal Income (₹ in lakhs)Face Value (₹)P/E (₹)EPS (Basi)  (₹)EPS (Diluted)  (₹)RoNW (%)NAV per Equity Share (Basic) (₹)
Le  TravenuesTechnologyLimited (Ixigo)5,175.731NA0.580.575.749.79
EasyTripPlannersLimited4,641.98161.830.770.7736.22.13
Yatra Online Limited3,974.651244.130.690.694.5014.80

Le Travenues Technology Limited IPO Objective 

The main objective of Le Travenues Technology Limited is to allocate resources for working capital, cloud infrastructure, technology upgrades, and strategic growth initiatives.

  1. Part-funding working capital requirements of the company: Le Travenues Technology proposes to utilize an amount of up to INR 45 crores from Net Proceeds, towards working capital requirements of their company in Fiscals 2025 and 2026. 
  1. Investments in cloud infrastructure and technology: The company plans to utilize INR 25.80 crores to meet its financial commitments efficiently, leveraging scalable infrastructure and prudent financial management, including cloud-based technologies and AI tools like ixigo PLAN. 
  1. Funding  inorganic  growth  through  acquisition  and  other  strategic  initiatives  and  general  corporate purposes: 
  1. Through strategic partnerships and acquisitions, the company aims to diversify its travel offerings, including tours, activities, and insurance. It seeks to be a comprehensive travel solution, enhancing user engagement and offering diverse services. 
  1. The company plans to deploy the balance funds towards the general corporate goals, including expanding into new business lines, growth opportunities, marketing, expenses, contingencies, personnel, and other purposes.

Ixigo IPO Risks And Challenges 

Ixigo’s risks include limited OTA experience after transitioning in 2020 and expanding into hotels in 2024. Dependency on agreements with IRCTC and system interruptions pose operational and financial threats.

  • It started in 2007 as a meta-search website, offering travelers aggregated deals and flight bookings through third-party sites. Transitioning to an OTA model in 2020, and expanding into hotels in 2024, their limited OTA experience poses operational risks. 
  • Their business heavily relies on their agreement with IRCTC, renewed until April 30, 2028, and for e-ticket booking until January 11, 2025. Violations may lead to penalties or termination, impacting their operations and finances.
  • System interruptions, including third-party failures, could disrupt their services, affecting partners like airlines and IRCTC. Vulnerabilities in technology infrastructure and AI ethics regulations pose risks, as does dependence on mobile platforms.

Le Travenues Technology Ltd IPO – Industry & Market Potential 

In 2023, the global Travel and Tourism sector contributed USD 9.5 trillion to the economy. APAC led in job creation, while India’s tourism spending and GDP contribution show promising growth, expected to reach 7% by 2031. The sector is projected to grow at a 7-9% CAGR from 2019 to 2028. 

Indian OTAs, evolving from airline aggregators to embrace hospitality and other sectors due to shrinking airline margins, witness shifting revenue contributions. Hotel and bus segments, driven by higher margins and growth, become significant, challenging traditional dominance. 

The Indian travel market anticipates 8% growth, with online travel poised for 12% expansion, propelled by digital advancements. OTAs foresee a robust 16% growth, led by rail and bus segments, with a projected 17% to 18% CAGR. 

Le Travenues Technology Ltd IPO – Type of Offer 

Le Travenues Technology Limited includes a fresh issue of INR 120 crores and an offer to sell 66.77 lakh shares by the existing shareholders. 

  • Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 1.20 crores. The company plans to utilize it to allocate resources for working capital, cloud infrastructure, technology upgrades, and strategic growth initiatives. 
  • Offer for sale: Le Travenues is offering to sell 66.77 lakh existing shares. The details of the selling shareholder are as below: 
Name of the selling shareholderNumber of shares offered
SAIF Partners India IV Limited1.94 crores
Peak  XV  Partners  Investments  V1.30 crores
Aloke Bajpai1.20 crores
Rajnish Kumar1.20 crores
Micromax Informatics Limited54.87 lakhs
Placid Holdings30.48 lakhs
Catalyst Trusteeship Limited13.34 lakhs
Madison India Capital HC4.47 lakhs

Le Travenues Technology Ltd (Ixigo) Offer Size

The offer size of Le Travenues Technology Limited’s IPO consists of a fresh issue of INR 120 crores and an offer to sell 66.77 lakh shares. The company aims to finance working capital, invest in cloud infrastructure, and pursue growth through strategic acquisitions. 

Ixigo IPO Allotment Structure 

Ixigo’s allocation will be as follows: 75% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 10% for Retail Individual Investors (RII) by SEBI regulations. A portion of the issue is also set aside for the eligible employees.

Qualified Institutional Buyers (QIB): As per SEBI regulations, 75% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.

Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.

Retail Individual Investors (RII): The remaining 10% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.

Eligible Employees: A portion of the issue is reserved for eligible employees. 

How to apply for a Le Travenues Technology IPO?

To apply for the Ixigo IPO through Alice Blue, you would typically follow these steps:

Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.

  1. Check for IPO Details: Once your account is active, you can check for the Ixigo IPO details in the IPO section of the Alice Blue platform.
  2. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
  3. Submit the Application: Confirm all your details and submit your application.

 You can apply for the Ixigo IPO at Alice Blue in just a few clicks!

Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

How do you check Le Travenues Technology IPO Allotment Status?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

  1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
  2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
  3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
  4. Select the Ixigo IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Ixigo IPO.
  5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.

If you face any issues, it’s recommended that you 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, application, 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 completing the allotment process, a few days after the IPO window closes.

Ixigo Ltd IPO Offer Registrar

The registrar for the Ixigo Limited IPO is Link Intime India Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.

Contact information for the registrar:

Link Intime India Private Limited

C-101, 1st Floor, 247 Park

LalBahadur Sharstri Marg, Vikhroli (West)

Mumbai 400 083, Maharashtra, India

Tel:(+91) 81081 14949

E-mail: [email protected]

Website: www.linkintime.co.in

Ixigo Limited IPO –  FAQs 

1. What is the allotment date of Ixigo Limited? 

The allotment date of the Ixigo Limited IPO is yet to be announced.

2. What is the price band of the Ixigo IPO? 

The price band of the issue is yet to be announced.

3. What is the size of the Ixigo IPO? 

The offer size of Le Travenues Technology Limited’s IPO consists of a fresh issue of INR 120 crores and an offer to sell 66.77 lakh shares. The company aims to finance working capital, invest in cloud infrastructure, and pursue growth through strategic acquisitions. 

4. What is the listing date of the Ixigo IPO? 

The listing date of Ixigo’s IPO is yet to be announced. 

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