Tag Archives: OFS

Ixigo IPO to open on June 10; plans to raise INR 840cr

The initial public offering (IPO) of Le Travenues Technology (Ixigo) is set to open on Monday, June 10, 2024. The company will be offering its shares in the range of INR 88-93 apiece.

Investors can apply for a minimum of 161 equity shares and its multiples thereafter until Wednesday, June 12.

Founded in 2006, Le Travenues Technology is an online travel agency (OTA) that enables travellers to book train, flight, and bus tickets as well as hotels under the brand name ‘Ixigo’. The company has the highest app usage among OTAs with a cumulative 83 million monthly active users across its apps, reports Business Today.

The IPO of Ixigo will include a fresh share sale of INR 120 crore and an offer-for-sale (OFS) of up to 6,66,77,674 equity shares by its existing shareholders amounting to little more than INR 620.10 crore. At the upper end of the price band, the company is looking to raise about INR 840 crore via IPO route.

SAIF Partners India IV, Peak XV Partners Investments V, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Madison India Capital and Capital Trusteeship are the selling shareholders in the offer-for-sale. Anchor book will open on Friday, June 7.

The net proceeds from the issue shall be utilised towards part-funding working capital requirements of the company; investments in cloud infrastructure and technology; funding inorganic growth through unidentified acquisitions and other strategic initiatives; and general corporate purposes. Proceeds from the OFS shall go to the selling shareholders of the company.

Its 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. (Source: Business Today)

Ixigo files DHRP with SEBI to raise INR 120cr via IPO

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)

Yatra to open its IPO on September 15

The initial share sale of travel service provider Yatra Online Ltd will open for public subscription on Friday September 15.

The three-day Initial Public Offering (IPO) will conclude on September 20 and the bidding for anchor investors will open on September 14 and for retail on September 15, according to the Red Herring Prospectus (RHP) filed on Friday.

The online travel company had raised INR 62 crore from a rights issue and allotted 26.27 lakh shares at a price of INR 236 per share, which was a part of pre-IPO placement.

Hence, the size of the fresh issue of INR 750 crore has been reduced by INR 148 crore, including the pre-IPO placement of INR 62.01 crore, and accordingly, the fresh issue is INR 602 crore.

The company has revised its Offer For Sale (OFS) component from 93.28 lakh equity shares to 1.22 crore equity shares after its promoter, THCL Travel Holding Cyprus Ltd offloading more shares in the issue.

The OFS now comprises up to 1.17 crore equity shares by THCL Travel Holding Cyprus Ltd and up to 4.31 lakh shares by investor Pandara Trust – Scheme I, represented by its trustee Vistra ITCL (India) Ltd, as per the RHP.
Proceeds from the fresh issue worth up to INR 150 crore will be utilised towards strategic investments, acquisitions and inorganic growth and up to INR 392 crore towards investment in customer acquisition and retention, technology, and other organic growth initiatives.