Ixigo IPO: Shares likely to debut at 32% premium on June 18
economictimes.indiatimes.comLe Travenues Technology, which operates the travel platform Ixigo, will debut on the exchanges on Tuesday, June 18. Ahead of the listing, the company's shares are trading with a premium of Rs 29-30 in the unlisted market.
If the current trends are sustained, the company's shares are expected to list with a premium of 32%. The IPO was priced at Rs 93 at the upper end.
However, it is important to note that grey market premiums are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The issue received an overwhelming response from investors with an overall subscription of over 98 times at close. The category reserved for retail investors was booked 54.8 times, while that of the non-institutional investors category was subscribed 110.5 times. Qualified Institutional Buyers (QIBs) bid 106.7 times the reserved portion.
Net proceeds from the public offer are proposed to be utilised for funding working capital requirements, investments in tech, funding inorganic growth through acquisitions and other strategic initiatives, and general corporate purposes.
Ixigo is a technology company focused on empowering Indian travelers to plan, book, and manage their trips across rail, air, buses, and hotels. It assists travellers in making smarter travel decisions by leveraging artificial intelligence, machine learning, and data science-led innovations on its OTA platforms.
Travellers can book train, flight, and bus tickets and hotels while accessing utility tools
