IPO Details
Bidding Dates
10 Jun 24 - 12 Jun 24
Price Range ₹
88 - 93
Total Equity
₹ 740.10Cr
Lot Size
161
Exchange Status
NSE,BSE
IPO Doc
Subscription Rate
Non-Institutional Investor
54.85×
Qualified Institutional Buyers
106.73×
Employees
0.00×
Retail Investors
54.85×
Total subscription Rate
98.34×
IPO Timeline
Offer start
10 Jun 2024
Offer end
12 Jun 2024
Allotment
13 Jun 2024
Refund initiation
14 Jun 2024
Demat transfer
14 Jun 2024
Listing
18 Jun 2024
Offer start
10 Jun 2024
Offer end
12 Jun 2024
Allotment
13 Jun 2024
Refund initiation
14 Jun 2024
Demat transfer
14 Jun 2024
Listing
18 Jun 2024
About Company
Le Travenues Technology Limited, founded in 2006, operates as an online travel agency (OTA) under the brand name "ixigo," offering a range of services including booking train, flight, and bus tickets, as well as hotels. Its offerings encompass PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternative route 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, and automated customer support. The ixigo platforms include the ixigo trains and Confirmtkt app, facilitating train travel planning and bookings with real-time information and post-sales support; the ixigo-flights mobile app, allowing users to book travel products and access booking details; and the Abhibus app, which provides bus schedules, amenities, and price comparisons. With a reported 83 million monthly active users across its apps as of September 2023, ixigo has the highest app usage among OTAs. The company recently introduced ixigo PLAN, an AI-based travel planner with detailed itineraries and real-time information, and a generative AI plugin for conversational interactions. Additionally, ixigo launched ixigo Assured Flex, offering flexible air or rail tickets with no extra cost for cancellations or rebookings, apart from any price difference. As of December 31, 2023, the company employed 486 full-time employees and had 4 consultants.
Year Founded
03-06-2006
Promotor Details
Aloke Bajpai
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 58.1 | 0 |
| Share Capital | 219666108 | 0 |
Offer to Public
7,95,80,899.00 Cr
Project Details
- Investments in cloud infrastructure and technology - 258cr
- Part-funding working capital requirements of our Company - 450cr
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives and gener - 403.08cr
Objectives
- Part-funding working capital requirements of our Company.Investments in cloud infrastructure and technology.Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
Highlights
- The company has experienced substantial growth in mobile app downloads, reaching 53.94 crore cumulative downloads by December 31, 2023, and boasts 21.32 crore registered users. This indicates a strong and expanding user base.
- ixigo offers a wide range of travel services, including train, flight, and bus bookings, along with hotel reservations, AI-based travel planning, and voice-based features in multiple regional languages. This diversification enhances its appeal to a broad audience.
- The company leverages artificial intelligence (AI), data science, and machine learning (ML) to transform travel information and crowd-sourced data into business intelligence. This technological edge helps improve its travel offerings and operational efficiency.
- ixigo's revenue from operations has shown consistent growth, increasing from Rs 135.57 crore in FY21 to Rs 501.25 crore in FY23, with Rs 491.02 crore recorded in the nine months ended December 2023. This demonstrates a strong financial performance and growth trajectory.
- The introduction of ixigo Assured Flex, which offers fully flexible airline or train tickets with no additional cancellation or rescheduling fees (apart from fare differences), highlights the company's commitment to innovation and customer-centric solutions.
Challenges
- ixigo's business heavily relies on the trends in the travel industry, both domestically and globally. Any general decline or disruption in the travel sector could adversely affect its business operations and revenue.
- Having transitioned into an OTA in the financial year 2020, ixigo has relatively limited experience operating in this competitive sector. This could pose challenges in navigating market dynamics and sustaining long-term growth.
- The company's train ticketing services are dependent on its agreement with the Indian Railway Catering and Tourism Corporation (IRCTC). Termination of this agreement could severely impact its ability to offer train ticketing services, adversely affecting its business.
- As of December 31, 2023, ixigo had a debt of approximately Rs 49.05 crore. Any inability to service this debt could negatively impact its financial stability and operational capabilities.
- There are ongoing litigation proceedings against the company and one of its directors. Any adverse judgment in these legal matters could have a detrimental effect on the company's reputation and business operations.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2024 | 6,062.03 | 372.97 | 75.33 | 71.85 | 0.4177 |
| 2022 | 5,379.70 | 369.75 | -573.53 | -573.53 | -3.3345 |
| 2020 | 701.26 | 0.43 | 75.33 | 71.85 | 0.4177 |
| 2023 | 5,700.33 | 371.20 | -210.94 | -243.82 | -0.6594 |
| 2021 | 1,799.52 | 2,326.12 | 75.33 | 71.85 | 0.4177 |
