Le Travenues Technology Limited was founded in 2006 and is an online travel agency (OTA) that enables travelers to book train, flight, and bus tickets as well as hotels via its OTA platforms under the brand name “ixigo”.
The company’s list of services includes PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternative route or transportation planning, flight status updates, automated web check-in, bus running status, price and availability alerts, deal discovery, destination content, personalized recommendations, instant fare alerts for flights, AI-based travel planning service and automated customer support.
The various OTA platforms offered by ixigo include:
- The ixigo trains and Confirmtkt app: They facilitate the travel planning and booking process by enabling users to search for available train tickets for travel across India, book and pay for the selected tickets, receive tickets through various fulfillment methods such as e-mail, SMS, and Whatsapp, access real-time information on train arrivals and departures and avail the required post-sales support.
- Ixigo-flights mobile app: It allows users to search and book all our travel products and services, including air tickets, train tickets, buses and hotels. Users can access all past and future bookings, check and amend booking details, and request e-tickets and details via messaging platforms. The app is available for both Android and iOS operating systems.
- Abhibus app: It allows users to check the amenities offered, compare booking prices, check bus schedules on the desired route and use other facilities. It is available through both the website and the mobile app.
The company has the highest app usage among OTAs with a cumulative 83 million monthly active users across its apps, according to data.ai in September 2023.
The company recently launched ixigo PLAN, an intelligent, AI-based travel planner that helps travelers plan their trips with detailed itineraries and real-time destination information. It has also launched a generative AI plugin that enables conversational interactions with ixigo PLAN.
The company has also launched a value-added service, ixigo Assured Flex, which enables the purchase of a fully flexible air or rail ticket with no additional payment for cancelation or rebooking, apart from the price difference, for all domestic flights and rail bookings at a low cost.
As of December 31, 2023, the company had 486 full-time employees, and 4 consultants working under consultancy agreements.
Ixigo IPO – Details
| IPO Opening Date | 10 June 2024 |
| IPO Closing Date | 12 June 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 7,95,80,900 Shares Worth ₹740.10 Crore Fresh Issue: 1,29,03,226 Shares Worth ₹120.00 Crore Offer For Sale: 6,66,77,674 Shares Worth ₹620.10 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹88 – ₹93 |
| Market Lot | 161 Shares |
| Min Order | 161 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Limited |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Ixigo IPO – Date Schedule
| IPO Open Date | 10 June 2024 |
| IPO Close Date | 12 June 2024 |
| Basis of Allotment Date | 13 June 2024 |
| Initiation of Refund | 14 June 2024 |
| Credit of Shares to Demat Account | 14 June 2024 |
| IPO Listing Date | 18 June 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 12, 2024 |
Ixigo IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 161 | ₹14,973 |
| Retail (Max) | 13 | 2,093 | ₹1,94,649 |
| S-HNI (Min) | 14 | 2,254 | ₹2,09,622 |
| S-HNI (Max) | 66 | 10,626 | ₹9,88,218 |
| B-HNI (Min) | 67 | 10,787 | ₹10,03,191 |
Competitive Strengths
- Leading online travel agency (“OTA”), with significant penetration in the underserved ‘Next Billion User’ market segment.
- Artificial intelligence (“AI”) and technology-driven operations.
- Established consumer travel brands built with a user-first approach.
- Diversified business model with significant operating leverage and organic flywheel.
- Experienced management team with lean organization structure.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 138.40 | 135.69 | 7.53 | 14.94 |
| 31 March 2022 | 384.94 | 402.54 | -21.09 | 2.73 |
| 31 March 2023 | 517.57 | 484.29 | 23.39 | 0.54 |
| 31 December 2023 | 497.09 | 475.48 | 65.71 | 43.36 |
Key Performance Indicator
| KPI | Values |
|---|---|
| RoNW | 15.26% |
| P/BV | 8.14 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 0.62 | 2.26 |
| P/E (x) | 148.87 | 41.12 |
Object Of The Issue
- Part-funding working capital requirements of the company;
- Investments in cloud infrastructure and technology; and
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
Ixigo IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 1 | Easy Trip Planners Limited | 54.96 |
| 2 | 1 | Yatra Online Limited | 187.83 |
Ixigo IPO Promoter Holding
| Pre Issue Share Holding | – |
| Post Issue Share Holding | – |
Ixigo IPO Prospectus
Company Contact Information
| Le Travenues Technology Limited Second Floor, Veritas Building, Sector – 53, Golf Course Road, Gurugram – 122 002 Phone: +91 124 668 2111 Email: investors@ixigo.com Website: http://www.ixigo.com/ |
Ixigo IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: ixigo.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Ixigo IPO Lead Manager(s)
| 1. Axis Capital Limited 2. Dam Capital Advisors Ltd 3. Jm Financial Limited |
Ixigo IPO FAQs
| What is Ixigo IPO? Ixigo IPO is a main-board IPO. The issue is priced at ₹88 to ₹93 per equity share. The IPO is to be listed on BSE & NSE. |
| When Ixigo IPO will open? The IPO is to open on 10 June 2024 for QIB, NII, and Retail Investors. |
| What is Ixigo IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Ixigo IPO? You can apply Ixigo IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Ixigo IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Ixigo”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Ixigo IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Ixigo“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Ixigo IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Ixigo”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Ixigo IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Ixigo”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Ixigo IPO Size? Ixigo IPO size is ₹740.10 Crore. |
| What is Ixigo IPO Price Band? Ixigo IPO Price Band is ₹88 to ₹93. |
| What is Ixigo IPO Minimum and Maximum Lot Size for retail? The minimum bid is 161 Shares with ₹14,973 amount while the maximum bid is 2,093 Shares with ₹1,94,649. |
| What is the Ixigo IPO Allotment Date? Ixigo IPO allotment date is 13 June 2024. |
| What is the Ixigo IPO Listing Date? Ixigo IPO listing date is 18 June 2024. The IPO is to list on BSE and NSE. |
