TBM Staff - Mumbai Le Travenues Technology Ltd, parent company of ixigo, yesterday filed preliminary papers with SEBI to raise funds through an initial public offering (IPO).
The Gurugram-based company’s IPO will be a combination of a fresh issue of equity shares worth INR 120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares by existing shareholders, according to the Draft Red Herring Prospectus (DRHP).
SAIF Partners India IV Ltd, Peak XV Partners Investments V (formerly known as SCI Investments V), Micromax Informatics Ltd, Placid Holdings, Catalyst Trusteeship Ltd, Madison India Capital HC, Aloke Bajpai and Rajnish Kumar will be selling shares through the OFS.
Proceeds worth INR 45 crore from the fresh issue will be used to fund the company’s working capital requirements and INR 26 crore will be utilised for investments in technology as well as data science, including on cloud and server hosting, technology on artificial intelligence and customer engagement.
Additionally, funds will be used to support inorganic growth through acquisitions, and for general corporate purposes.
Also, the company plans to raise up to INR 24 crore in a pre-IPO round. If such placement is undertaken, the fresh issue size will be reduced.
Axis Capital, DAM Capital Advisors and JM Financial are the book running lead managers to the public issue.
The company had filed draft papers with SEBI in August 2021 to float a INR 1,600 crore IPO. However, the plan did not take off. (Source: Business Standard)
