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Le Travenues Technology Limited, founded in 2006 operates as an online travel agency under the brand name “ixigo.” It offers a variety of services including booking train, flight and bus tickets, as well as hotel reservations. Key features include PNR status updates, train seat availability alerts, real-time train running status, delay predictions, alternative route planning, flight status updates, automated web check-in, bus running status, price alerts, deal discovery, destination content, personalized recommendations and AI-based travel planning and support.
The company’s platforms include:
- ixigo trains and Confirmtkt app: Helps users search, book and pay for train tickets, access real-time train information and receive tickets via email, SMS or WhatsApp.
- ixigo-flights mobile app: Enables booking of flights, trains, buses and hotels, and allows users to manage all their bookings and request e-tickets through messaging platforms. Available on Android and iOS.
- Abhibus app: Allows users to compare bus amenities and prices, check schedules and book tickets through the website or mobile app.
As of September 2023 ixigo had highest app usage among OTAs with 83 million monthly active users. The company also launched ixigo PLAN, an AI-based travel planner that provides detailed itineraries and real-time destination information, along with a generative AI plugin for conversational interactions. Another recent service, ixigo Assured Flex, offers flexible air and rail tickets with no extra fees for cancellations or rebookings, except for price differences.
As of December 31, 2023, ixigo employed 486 full-time staff and 4 consultants.
ixigo IPO (Le Travenues Technology Ltd IPO) Overview
The ixigo IPO is set to raise ₹740.10 crores, consisting of fresh issue of 1.29 crore shares worth ₹120 crores and an offer for sale of 6.67 crore shares worth ₹620.10 crores.
The IPO will be open for subscription from June 10, 2024 to June 12, 2024. The allotment of shares is expected to be finalized on June 13, 2024, and shares are likely to be listed on BSE and NSE on June 18, 2024. The price band for IPO is set between ₹88 and ₹93 per share.
ixigo IPO (Le Travenues Technology Ltd IPO) GMP
As of June 8, 2024, ixigo’s IPO has Grey Market Premium or GMP of ₹28. With price band set at ₹93 estimated listing price is ₹121 (cap price + today’s GMP). This indicates an expected gain of 30.11% per share.
The GMP has been trending upward over past four sessions suggesting strong listing. The GMP has ranged from ₹0 to ₹28. Stay tuned with Trade Target for daily updates on ixigo IPO GMP and expected listing price.
- Date: 14 – June – 2024
- ixigo GMP: ₹30 (32.26%)
- Date: 13 – June – 2024
- ixigo GMP: ₹30 (32.26%)
- Date: 12 – June – 2024
- ixigo GMP: ₹36 (38.71%)
- Date: 11 – June – 2024
- ixigo GMP: ₹36 (38.71%)
- Date: 10 – June – 2024
- ixigo GMP: ₹28 (30.11%)
- Date: 09 – June – 2024
- ixigo GMP: ₹23 (24.73%)
- Date: 08 – June – 2024
- ixigo GMP: ₹23 (24.73%)
- Date: 07 – June – 2024
- ixigo GMP: ₹28 (30.11%)
- Date: 06 – June – 2024
- ixigo GMP: ₹28 (30.11%)
How can one apply for the ixigo IPO (Le Travenues Technology Ltd IPO)?
For retail investors minimum investment starts with 1 lot, comprising 161 shares, at cost of ₹14,973. The maximum limit for retail investors is 13 lots which totals 2,093 shares and costs ₹194,649.
For small High Net-worth Individuals (S-HNIs) minimum investment is set at 14 lots, translating to 2,254 shares and costing ₹209,622, while maximum investment is 66 lots, amounting to 10,626 shares and costing ₹988,218.
For big High Net-worth Individuals (B-HNIs) minimum investment begins at 67 lots, which equals 10,787 shares and has cost of ₹1,003,191.
| Application | Lots | Shares | Amount |
|---|---|---|---|
Retail (Min) | 1 | 161 | ₹14,973 |
Retail (Max) | 13 | 2093 | ₹194,649 |
S-HNI (Min) | 14 | 2,254 | ₹209,622 |
S-HNI (Max) | 66 | 10,626 | ₹988,218 |
B-HNI (Min) | 67 | 10,787 | ₹1,003,191 |
ixigo IPO (Le Travenues Technology Ltd IPO) Financial
The company’s assets, revenue and profit after tax generally increased over the specified periods, while total borrowing fluctuated. However, it is important to note that there was loss in profit after tax in the financial year ending March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
Assets in (₹ Crores) | 678.71 | 585.93 | 538.47 | 185.07 |
Revenue (₹ Crores) | 497.10 | 517.57 | 384.94 | 138.41 |
PAT (₹ crores) | 65.71 | 23.40 | -21.09 | 7.53 |
Total Borrowing (₹ crores) | 43.36 | 0.54 | 2.73 | 14.94 |
Le Travenues Technology Ltd IPO (ixigo IPO) Vs Peers
Le Travenues Technology Limited(ixigo) has an EPS of 0.58 and high P/E ratio of 148.87 indicating high valuation.
Easy Trip Planners Limited with an EPS of 0.77 and P/E ratio of 54.96 shows lower valuation.
Yatra Online Limited has an EPS of 0.69 and highest P/E ratio of 187.83 suggesting it is he most expensive relative to its earnings.
| Company | EPS Basic | P/E(x) |
|---|---|---|
Le Travenues Technology Limited | 0.58 | 148.87 |
Easy Trip Planners Limited | 0.77 | 54.96 |
Yatra Online Limited | 0.69 | 187.83 |
Le Travenues Technology Ltd IPO (ixigo IPO) Quota allocation
- QIB Investors: 75% of the net issue
- Retail Investors: 10% of the net issue
- NII (HNI) Investors: 15% of the net issue
Expected Listing Date for ixigo IPO (Le Travenues Technology Ltd IPO)
- Subscription Period: 10 June 2024 to 12 June 2024
- Basis of Allotment Finalization: 13 June 2024
- Initiation of Refunds: 14 June 2024
- Demat Credits: 14 June 2024
- Listing Date: 18 June 2024
- Listing on: BSE, NSE
