Ixigo Launches Highly Anticipated ₹740 Crore IPO, Sets Price Band at ₹88-93 Per Share

Ixigo sets ₹88-93 price band for its ₹740 crore IPO, comprising ₹120 crore fresh issue and ₹620 crore offer for sale. The issue opens for subscription on June 10.

Ixigo, the travel booking platform, has set a price band of ₹88-93 per share for its ₹740 crore IPO. The IPO comprises a fresh issue of ₹120 crore and an offer for sale of ₹620 crore by existing shareholders. The issue will open for subscription on June 10.

The IPO allocation includes 75% for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Ixigo reported a net profit of ₹23 crore in FY23, up from a loss of ₹22 crore in the previous year.

Ixigo’s revenue grew 32% to ₹501 crore in FY23. For the first nine months of FY24, the company’s net profit surged 252% to ₹66 crore, while revenue increased 35% to ₹491 crore. The shares are expected to be listed on June 18.

The IPO proceeds will be used to fund Ixigo’s working capital requirements, investments in technology and data science, and support inorganic growth through acquisitions. Ixigo is India’s leading online travel aggregator, helping travelers plan, book, and manage their trips.

Axis Capital, DAM Capital, and JM Financial are the book-running lead managers to the IPO, while Link Intime India is the registrar. The grey market premium for Ixigo’s shares remains 0 even after the announcement of the price band.

Loading
Read More News

STOP PAYING

₹ 20 BROKERAGE

ON TRADES !

Trade Intraday and Futures & Options