Ixigo IPO Closed

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10th – 12th Jun 2024
18 Jun 2024
₹88 – ₹93
Lot size 161 — ₹14973
740cr

Schedule of Ixigo

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

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 of Ixigo


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.