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All details of Ixigo you should know about!
Overview of Ixigo
IPO Date
10-Jun-2024 to 12-Jun-2024
Face Value
₹1 per share
Price Band
₹88 to ₹93
Lot Size
161 Share
Issue Size
79,580,900 shares (aggregating up to ₹740.10 Cr)
Listing At
BSE, NSE
Basis of Allotment
13-Jun-2024
Initiation of Refunds
14-Jun-2024
Credit of Shares to Demat
14-Jun-2024
Listing Date
18-Jun-2024
Cut off time for UPI Mandate
12-Jun-2024
Objective of Ixigo
A new player is entering the IPO ring – Le Travenues Technology, better known by its brand name, Ixigo. This online travel agency (OTA) wants to raise ₹740 crore through its initial public offering. The objectives of the upcoming IPO are as follows:
1. Working capital: ixigo aims to obtain resources to ensure the smooth functioning of its day-to-day operations.
2. Tech investments: The company plans to invest in cloud infrastructure and upgrade its technology to remain at the forefront of the industry.
3. Growth strategy: The goal is to fuel expansion through strategic acquisitions and other initiatives.
Ixigo's share allocation is strategically divided among different investor categories. The largest portion (75%) is reserved for Qualified Institutional Buyers (QIBs) such as mutual funds and insurance companies. High-net-worth individuals (HNIs) and Non-Institutional Investors (NIIs) can access 15% of the offering. Retail investors can participate by applying for a minimum of 161 shares and multiples thereof, which represents only 10% of the total shares available.
About Ixigo
Established in 2006, ixigo has established itself as a major player in the online travel agency (OTA) industry. The company boasts the highest number of app users among OTAs in India, with an impressive 83 million monthly active users. This extensive user base contributes to strong brand recognition and market penetration. Furthermore, the company is on the brink of experiencing a network effect, where the platform becomes more valuable as more users join, which may lead to substantial profit growth in the future.
Ixigo offers various OTA platforms, including:
1. ixigo trains and Confirmtkt app: These apps help users with travel planning and booking across India. Users can search for train tickets, book and pay for selected tickets, receive tickets via email, SMS, or WhatsApp, access real-time train information, and receive post-sales support.
2. ixigo-flights mobile app: This app allows users to search and book air tickets, train tickets, buses, and hotels. Users can access past and future bookings, check and modify booking details, and request e-tickets and details via messaging platforms. The app is available for both Android and iOS.
3. Abhibus app: This app enables users to check amenities offered, compare booking prices, check bus schedules, and use other facilities. It is accessible through both the website and the mobile app.
According to data.ai in September 2023, the company has the highest app usage among OTAs with a cumulative 83 million monthly active users across its apps.
Ixigo Financials
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Ixigo IPO opens on 10th June and closes on 12th June.
The Basis of Allotment will happen on Thursday, June 13, 2024.
The lot size for ixigo’s IPO is 161 shares with a minimum investment of ₹14,973.
On the date of allotment, login to your demat account through which you placed the order. Click on IPO orders and you will be able to view the status against the purchase.
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