Ixigo to launch its IPO on June 10. Check key details
initial public offering (IPO) of Le Travenues Technology, which operates travel tech platform Ixigo, will open for subscription on June 10 and close on June 12.
The company filed its draft red herring prospectus (DRHP) with markets regulator Sebi in February and received approval for the same in May.
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 offer is being made through the book building process wherein 75% of the IPO is reserved for qualified institutional buyers, 15% for non-institutional investors and the rest 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 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 and services including train PNR status and confirmation predictions, train seat availability alerts, train running status
