Le Travenues Technology Limited, the parent company of travel booking platform Ixigo, is gearing up for its stock market debut on June 10, with shares priced between Rs 88 and Rs 93.
Ahead of its IPO, the company disclosed a pre-IPO secondary placement amounting to Rs 176.2 crore ($21 million) at the top-end price of Rs 93 per share, just a day before the Anchor Book.
SAIF Partners, an early backer, sold 1,07,52,689 shares worth Rs 100 crore ($12 million) to Ashoka India (White Oak), Tata Digital Fund, and Bay Capital. Concurrently, PeakXV divested 6,989,248 shares valued at Rs 65 crore ($7.8 million) to Bay Capital and Steadview Holding.
In a pre-IPO secondary round, Micromax and Madison India offloaded their 12,05,268 shares to Steadview Capital, fetching Rs 11.2 crore ($1.3 million).
The post-secondary transaction, SAIF Partners will retain a 20.52% stake, while Peak XV and Micromax will hold 13.81% and 5.52% respectively. Co-founders Aloke Bajpai and Rajnish Kumar collectively possess a 16.65% stake.
Analysts predict significant returns for SAIF Partners and Peak XV, with estimated returns of 13X and 8.2X respectively. Additionally, Micromax Limited is expected to reap returns of 10.88X from its investment in Ixigo.
The public offering for Ixigo will span from June 10 to June 12, with a minimum lot size of 161 shares for retail investors and 14 lots for small non-institutional investors.
Ixigo showcased robust growth in the first nine months of FY24, recording an operating revenue of Rs 491 crore and a profit of Rs 65.7 crore during the same period.
