Ixigo files for its Rs 1,600 crore IPO


Last Updated: Dec 10, 2022 - 05:16 pm 55.4k Views

The name Le Travenues Technology may not really ring a bell, but this is the company that operates the highly popular travel platform Ixigo. This week, Ixigo has filed draft red herring prospectus (DRHP) with SEBI for its proposed Rs.1,600 crore IPO. The IPO will consist of a fresh issue of Rs.750 crore and an offer for sale (OFS) for Rs.850 crore. 

The two biggest sellers in the OFS will be Elevation Capital at Rs.550 crore and Micromax Rs.200 crore. In addition, two promotes Alok Bajpai and Rajnish Kumar will sell Rs.50 crore each. Elevation Capital was formerly called SAIF Partners and has $2 billion invested in India. Ixigo is an online travel agency (OTA), driven by artificial intelligence (AI) and machine learning (ML).

The Rs.750 crore fresh issue will be used to bankroll its organic and inorganic growth initiatives. Organic initiatives include discounts and promotional incentives as well as enhanced investments in marketing, distribution and technology infrastructure. Inorganic initiatives, on the other hand, refer to mergers and acquisitions.

Ixigo has some unique records to its credit. Its online train booking platform is the largest B2C distribution platform for IRCTC with 42% market share. Apart from its train focused app, ConfirmTkt, Ixigo also has a bus focused app, AbhiBus. Incidentally, AbhiBus has a 10% market share in bus bookings and is the second largest bus ticketing platform in India. 

In the recent past, Ixigo has clocked some huge numbers. For example, its gross order value (GOV) stands at Rs.2,695 crore for the year. Its app usage at 3.75 crore users is the highest, and its monthly app download of 37.50 lakhs is again a record. For FY21, Ixigo reported revenues of Rs.138 crore and a net profit of Rs.7.53 crore.

How do you rate this blog?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest Blogs
Bearer Cheque

Introduction A bearer cheque is an efficient and adaptable financial tool. It is a method of payment where the cheque is made out to the owner or bearer of the document. Bearer cheques enable the holder to cash or deposit the cheque without any requirement for identification or endorsement, in contrast to other cheques payable to a specific person or business.

  • Jun 06, 2023
Best Indicators for Intraday Trading

Introduction Intraday trading, also known as day trading, is a fast-paced trading strategy where traders aim to take advantage of short-term price fluctuations in financial markets. To succeed in this highly competitive arena, traders rely on various best indicators for intraday to make informed decisions and maximize their chances of profitability.

  • Jun 06, 2023
Nifty Outlook for 7 June 2023

Nifty started the day around 18600, but it witnessed selling pressure as the IT stocks corrected sharply and thus the benchmark index traded under pressure. However, the index recovered the losses from the lows towards the end and closed around the opening levels with a negligible loss.

  • Jun 06, 2023

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number