IPO of travel aggregator Ixigo to open on June 10

Le Travenues Technology IPO

The initial public offering of Le Travenues Technology, the parent company of travel aggregator Ixigo, will hit the Dalal Street on June 10. The price band for the issue will be announced on June 5.

The IPO, which closes on June 12, comprises of fresh issuance of equity shares worth Rs 120 crore, and an offer-for-sale (OFS) of 6,66,77,674 equity shares by the existing shareholders.

SAIF Partners India IV, Peak XV Partners Investments V, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Catalyst Trusteeship, and Madison India Capital HC are the selling shareholders in the OFS.

SAIF Partners and Peak XV are the largest shareholders in the company, with 23.37 percent and 15.66 percent stake, respectively.

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The professionally managed technology company, focussing on travellers to plan, book and manage their trips across rail, air, buses and hotels, recorded net profit at Rs 23.4 crore for the year ended March FY23, against loss of Rs 21.09 crore in the previous year. Revenue from operations during the same period increased by 32 percent to Rs 501.3 crore.

Net profit for the nine-month period ended December FY24 grew by 252.1 percent to Rs 65.7 crore, up from Rs 18.7 crore in the corresponding period of previous fiscal. Revenue in 9MFY24 jumped 34.8 percent to Rs 491 crore compared to year-ago period.

The anchor book of the public issue will be opened for a day on June 7.

Axis Capital, DAM Capital Advisors, and JM Financial are the book running lead managers to the issue.