Le Travenues Technology Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 10, 2024 to June 12, 2024 |
| Listing Date | [.] |
| Face Value | ₹ 1 per share |
| Price Band | ₹ 88 to ₹ 93 per share |
| Lot Size | 161 Shares |
| Total Issue Size | 7,95,80,900 shares (aggregating up to ₹ 740.10 Cr) |
| Fresh Issue | 1,29,03,226 shares (aggregating up to ₹ 120.00 Cr) |
| Offer for Sale | 6,66,77,674 shares of ₹1 (aggregating up to ₹ 620.10 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 37,45,19,945 |
| Share holding post issue | 38,74,23,171 |
About Le Travenues Technology Limited IPO
Le Travenues Technology Ltd (Ixigo) is a technology company that empowers Indian travellers to plan, book, and manage their trips across rail, air, buses, and hotels. They assist travellers in making smarter travel decisions by leveraging artificial intelligence, machine learning, and data science-led innovations on their OTA platforms, comprising their websites and mobile applications. Their vision is to become the most customer-eccentric travel company, by offering the best customer experience to their users. ixigo IPO is a book-built issue of Rs 740.10 crores. The issue is a fresh issue of 1.29 crore shares aggregating to Rs 120.00 crores and an offer for sale of 6.67 crore shares aggregating to Rs 620.10 crores.
ixigo IPO opens for subscription on June 10, 2024 and closes on June 12, 2024. The allotment for the ixigo IPO is expected to be finalized on Thursday, June 13, 2024. ixigo IPO will list on BSE, and NSE with a tentative listing date fixed as Tuesday, June 18, 2024. ixigo IPO price band is set at ₹88 to ₹93 per share. The minimum lot size for an application is 161 Shares. Axis Capital Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) and Jm Financial Limited are the book-running lead managers of the ixigo IPO. At the same time, Link Intime India Private Ltd is the registrar for the issue.
ixigo IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
ixigo IPO Anchor Investors Details
| Bid Date | June 7, 2024 |
| Shares Offered | 35,811,405 |
| Anchor Portion Size (In Cr.) | 333.05 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 11, 2024 |
Company & Financials
Le Travenues Technology Limited was founded in 2006 and is an online travel agency (OTA) that enables travellers to book train, flight and bus tickets as well as hotels via its OTA platforms under the brand name "ixigo".
The various OTA platforms offered by ixigo include:
- 1. The ixigo trains and Confirmtkt app: They facilitate the travel planning and booking process by enabling users to search for available train tickets for travel across India, book and pay for the selected tickets, receive tickets through various fulfilment methods such as e-mail, SMS, and Whatsapp, access real-time information on train arrivals and departures and avail the required post-sales support.
- 2. ixigo-flights mobile app: It allows users to search and book all our travel products and services, including air tickets, train tickets, buses and hotels. Users can access all past and future bookings, check and amend booking details, and request e-tickets and details via messaging platforms. The app is available for both Android and iOS operating systems.
- 3. Abhibus app: It allows users to check the amenities offered, compare booking prices, check bus schedules on the desired route and use other facilities. It is available through both the website and the mobile app.
Objectives of ixigo IPO
The company proposes to utilize the Net Proceeds towards funding the following objectives:
- 1. Part-funding working capital requirements of the company.
- 2. Investments in cloud infrastructure and technology.
- 3. Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
ixigo IPO Review
The company is one of the fastest-growing OTA players and enjoys popularity under its IXIGO brand. Though it marked a setback for FY22 amidst the Pandemic, it is again on a growth path from FY23 onwards. Its bottom line for 9M-FY24 includes Rs. 29.72 cr. for exceptional items and even if this is removed it marked a growth in its earnings. Based on annualized FY24 earnings, the issue appears fully priced. Investors may lap it up for the long-term rewards.
Le Travenues Technology Limited IPO Financial Information
Latest Revenue
497.10
₹ Crore
Profit After Tax
65.71
₹ Crore
Net Worth
437.13
₹ Crore
Total Borrowing
43.36
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 678.71 | 497.10 | 65.71 | 437.13 | 43.36 | ||||
| 31 Mar 2023 | 585.93 | 517.57 | 23.40 | 23.40 | 0.54 | ||||
| 31 Mar 2022 | 538.47 | 384.94 | -21.09 | 342.69 | 2.73 | ||||
| 31 Mar 2021 | 185.07 | 138.41 | 7.53 | 29.94 | 14.94 | ||||
| Amount in ₹ Crore | |||||||||
Le Travenues Technology Limited Key Performance Indicator
| KPI | Values |
|---|---|
| RoNW | 15.26% |
| P/BV | 8.14 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.62 | 2.26 |
| P/E (x) | 148.87 | 41.12 |
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Competitive Strengths
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Le Travenues Technology Limited IPO Timeline
| IPO Open Date | Monday, June 10, 2024 |
| IPO Close Date | Wednesday, June 12, 2024 |
| Basis of Allotment | Thursday, June 13, 2024 |
| Initiation of Refunds | Friday, June 14, 2024 |
| Credit of Shares to Demat | Friday, June 14, 2024 |
| Listing Date | Tuesday, June 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 12, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 161 | ₹14,973 |
| Retail (Max) | 13 | 2,093 | ₹194,649 |
| S-HNI (Min) | 14 | 2,254 | ₹209,622 |
| S-HNI (Max) | 66 | 10,626 | ₹988,218 |
| B-HNI (Min) | 67 | 10,787 | ₹1,003,191 |