Schedule
| Issue open date | 10 Jun 2024 |
| Issue close date | 12 Jun 2024 |
| UPI mandate deadline | 12 Jun 2024 (5 PM) |
| Allotment finalization | 13 Jun 2024 |
| Refund initiation | 14 Jun 2024 |
| Share credit | 14 Jun 2024 |
| Listing date | 18 Jun 2024 |
| Mandate end date | 27 Jun 2024 |
| Lock-in end date for anchor investors (50%) | 13 Jul 2024 |
| Lock-in end date for anchor investors (remaining) | 13 Sep 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About
Ixigo’s IPO launches on June 10, 2024, with subscriptions closing on June 12, 2024. Established as Le Travenues Technology Limited in 2007, Ixigo empowers Indian travellers to plan, book, and manage trips across rail, air, buses, and hotels. The IPO is a fresh issue of 1.29 crore shares aggregating Rs 120 crores and an offer for sale of 6.67 crore shares aggregating Rs 620.10 crores. The company is backed by SAIF Partners India IV, Peak XV, and Micromax, which are among the selling shareholders in the OFS.
According to the F&S Report:
- The company has the highest app usage among OTAs with 83 million Monthly Active Users cumulatively across their apps, as per data.ai in September 2023.
- The company is the largest Indian train ticket distributor in the OTA rail market and had the largest market share of around 51%, in terms of rail bookings, among OTAs, as of March 31, 2023.
Financials
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹740 crores |
| Fresh Issue | ₹120 crores |
| Offer for sale | ₹620 crores |
*All figures except EPS are in ₹ Crores
Risks
- Dependence on IRCTC: The company’s train ticketing services depend on its agreement with IRCTC. The termination of the agreement with IRCTC could otherwise have a material adverse effect on the results of operations, cash flows, financial condition, and business prospects.
- Highly competitive and incentive-based sector: The Indian OTA industry is highly competitive and the company may not be able to effectively compete in the future. There is also a risk of reduction or elimination of commission, incentive, and other compensation by some of the travel suppliers and this could adversely affect the business, cash flows, and results of operations.
Note:
- The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
- The allotment status will be available by June 14, 2024, on the Registrar’s website and the NSE website.