Ixigo IPO: Prior to going public, the Gurgaon-based company raises ₹333 crore through an anchor book.

Prior to its June 10 launch, the ixigo IPO received ₹333 crore from anchor investors. HDFC MF, Morgan Stanley, and Nomura are significant investors. The last day to subscribe is June 12.

Prior to its June 10 launch on D-Street, the ixigo initial public offering (IPO) has already received ₹333 crore from anchor investors. On Wednesday, June 12, the subscription period for Le Travenues Technology’s IPO will come to an end.

The Government of Singapore, Nomura, Morgan Stanley, 3P India Equity Fund, HDFC MF, Motilal Oswal MF, and Tata Investment Corporation are among the notable investors who have subscribed to the anchor book of the ixigo IPO.

12,087,583 equity shares, or 33.75% of the total allocation to anchor investors, were given to four domestic mutual funds that applied through a total of seven schemes (Motilal Oswal Large Cap Fund, Whiteoak Capital Flexi Cap Fund, HDFC Mutual Fund, and SBI Magnum Children’s Benefit Fund). This represents the total amount of 35,811,405 equity shares that were allocated to anchor investors.

Pre-IPO secondary placements totaling about ₹176.2 crore at the top end of the price range were completed one day before to the opening of the anchor book, as previously disclosed by Ixigo IPO.

Indian tourists may arrange, plan, and manage their travels by bus, rail, and hotel with the help of the digital company ixigo. By integrating data science-driven technologies, artificial intelligence, and machine learning into its OTA platforms, it assists travellers in making more informed travel selections.

In addition to booking hotel rooms and train, flight, and bus tickets, travellers can take advantage of various utility tools and services like automated customer support, personalised recommendations, instant fare alerts, train running status updates and delay predictions, train seat availability alerts, and train PNR status and confirmation predictions.

Details of the Ixigo IPO

The ixigo IPO, situated in Gurugram, consists of an offer for sale (OFS) by current shareholders to purchase 6.66 crore equity shares at a premium of ₹620 crore, in addition to a new issue of shares valued at ₹120 crore. This is equivalent to a ₹740 crore initial public offering.

The company’s working capital needs would be met by the ₹45 crore proceeds from the fresh issuance, with the remaining ₹26 crore going towards investments in technology and data science, including artificial intelligence, cloud and server hosting, and customer interaction. The money will also be used to support overall corporate goals and inorganic growth through acquisitions.

The book running lead managers for the ixigo IPO are Axis Capital Limited, Dam Capital Advisors Ltd (formerly Idfc Securities Ltd), and JM Financial Limited. Link Intime India Private Ltd. is the registrar.

Investors may place a bid for up to 161 shares in a single lot or in multiples thereafter, with the company setting a price range of ₹88-93 per share.

According to the company, qualified institutional buyers (QIBs) would receive 75% of the issue size, non-institutional investors will receive 15%, and retail investors will receive the remaining 10%. A minimum of 161 shares, as well as multiples of those shares, are up for bid.

Operational revenue for the nine months ended in December 2023 jumped 31% year over year to ₹497 crore, while net profit more than doubled to ₹65.7 crore.

Ixigo’s GMP IPO today

Ixigo’s current grey market premium, or GMP, is +28. As per investorgain.com, this suggests that the ixigo share price was selling at a premium of ₹28 in the grey market.

The ixigo IPO projected listing price was disclosed at ₹121 per share, which is 30.11% more than the IPO price of ₹93, taking into account the upper end of the the current premium in the grey market and the IPO pricing range.