ixigo, a popular travel booking platform, is set to launch its initial public offering (IPO) on June 10, marking an important milestone for the company.
Details of the IPO
Offering Structure
The IPO aims to raise up to Rs 740 crore, with a price band of Rs 88 to Rs 93 per share. It comprises fresh shares worth Rs 120 crore and an offer for sale (OFS) of 6.66 crore shares worth Rs 620 crore by existing shareholders.
Utilization of Funds
The funds raised will be utilized for various purposes, including meeting working capital needs, investing in technology and data science, potential acquisitions, and general operational expenses.
Timeline and Listing Information
The IPO will open on June 10 and close on June 12, with anchor investors able to bid on June 7. The company’s shares are expected to be listed on both BSE and NSE, tentatively scheduled for June 18.
About ixigo
ixigo, operated by Travelnews Technology Limited, is recognized as India’s leading online travel aggregator.
The platform assists travelers in planning, booking, and managing trips across various modes of transportation and accommodations.
Financial Performance
For the year ended March 2023, ixigo reported a profit of ₹23 crore, a significant improvement from the previous year’s loss of ₹22 crore. Its revenue also witnessed a healthy growth of 32% to ₹501 crore during the same period
Additionally, the company’s profit surged by 252% to around ₹66 crore for the nine-month period ended December FY24 compared to the previous financial year.
Its revenue for the nine months of FY24 grew by 35% to ₹491 crore, showcasing robust financial performance.
