Le Travenues Technology Limited, the parent company of travel booking platform Ixigo, has successfully raised Rs 333 crore ($40 million) from anchor investors as part of its initial public offering (IPO) preparations.
According to a regulatory filing with the Bombay Stock Exchange, Ixigo’s board approved the issuance of 3,58,11,405 equity shares at an issue price of Rs 93 each to anchor investors. This capital infusion follows a pre-IPO secondary placement of Rs 176.2 crore ($21 million) at the upper price band.
Prominent investors such as SBI, HDFC, Morgan Stanley, Nomura Fund, 3P India, Motilal Oswal, Malabar, Bajaj Allianz, and Tata Investments are among the key anchor investors participating in Ixigo’s IPO. The allocation includes 1,20,87,583 equity shares distributed to four domestic mutual funds across seven schemes.
Ixigo’s public offering is scheduled for June 10th to 12th, 2024, with a price band set between Rs 88 and Rs 93, and a minimum bid quantity of 161 shares.
Before this anchor investment round, SAIF Partners held a 20.52% stake in Ixigo, while Peak XV and Micromax owned 13.81% and 5.52%, respectively. The company’s co-founders, Aloke Bajpai and Rajnish Kumar, collectively hold a 16.65% stake.
Ixigo reported notable growth during the first nine months of the last fiscal year (FY24), achieving an operating revenue of Rs 491 crore and a profit of Rs 65.7 crore during the same period.
