Ixigo shares close 78% higher on market debut

Ixigo debuts strong

Shares of Le Travenues Technology, which operates travel booking platform ixigo, on Tuesday ended with a huge premium of over 78 per cent against the issue price of Rs 93.

The stock started the trade at Rs 135, rallying 45.16 percent from the issue price on the BSE. Later, it zoomed 74.18 percent to settle at Rs 161.99.

At the NSE, it listed at Rs 138.10, up 48.49 percent. The stock ended at Rs 165.72, skyrocketing 78.19 percent.

The company's market valuation stood at Rs 6,275.87 crore.

In traded volume terms, 76.43 lakh shares of the company were traded at the BSE and 964.60 lakh shares on the NSE during the day.

Benchmark equity indices Sensex and Nifty ticked higher to hit lifetime high levels on Tuesday. Rising for the fourth straight session, the 30-share BSE Sensex climbed 308.37 points or 0.40 per cent to settle at a new closing peak of 77,301.14. The NSE Nifty went up by 92.30 points or 0.39 per cent to hit a record closing high of 23,557.90.

The initial public offering of Le Travenues Technology got subscribed 98.10 times on the closing day of subscription on Wednesday last week.

The Rs 740 crore initial share sale had a fresh issue of up to Rs 120 crore and an offer-for-sale (OFS) of up to 6,66,77,674 equity shares.

The price range for the offer was Rs 88-93 per share.

Launched in 2007 by Aloke Bajpai and Rajnish Kumar, Le Travenues Technology is the country's leading online travel aggregator, which helps travellers plan, book and manage their trips across rail, air, buses, and hotels.