Ixigo raises Rs 333 crore from anchor investors ahead of IPO
Le Travenues Technology, which operates travel platform Ixigo, on Friday raised around Rs 333 crore from anchor investors ahead of its IPO launch. The issue opens for subscription on June 10 and closes on June 12.
Some of the marquee investors who subscribed to Ixigo's anchor book include Nomura, Morgan Stanley, 3P India Equity Fund, HDFC MF, Motilal Oswal MF, Government of Singapore, Tata Investment Corp.
Ixigo had already announced pre-IPO secondary placements of around Rs 176.2 crore at the top end of price band, completed a day prior to anchor book opening.
The IPO comprises fresh equity sale of Rs 120 crore and an offer for sale (OFS) of up to 6.66 crore shares. Under the OFS, SAIF Partners, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics and Placid Holdings will offload part of their stakes.
The company has fixed a price band of Rs 88-93 per share and investors can bid for 161 shares in one lot and in multiples thereafter.
About 75% of the offering is reserved for qualified institutional bidders (QIBs), while 15% is for non-institutional investors and the remaining 10% for retail investors.
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 travellers to plan, book and manage their trips across rail, air, buses and hotels. It assists travellers
