Ixigo IPO Synopsis
Le Travenues Technology Limited's (Ixigo) IPO has filed its DRHP with SEBI. The company operates in the Indian travel and tourism industry. The IPO includes a fresh issue of ₹120 cr and an Offer-for-Sale (OFS) of 66,677,674 Equity Shares. The share allotment date and listing date are yet to be announced. The price band and the lot size are yet to be declared.
Axis Capital Limited, DAM Capital Advisors Limited, and JM Financial Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of the Ixigo IPO:
● For working capital requirements
● To invest in cloud infrastructure and technology
● Funding inorganic growth through unidentified acquisitions and other strategic initiatives
● General corporate purposes
About Le Travenues Technology
Le Travenues Technology Limited operates in the Indian travel and tourism industry. It allows individuals to plan, book, and manage their travel and trips in terms of rail, air, bus and hotel bookings. In addition to this, the company also allows the usage of travel utility tools and services developed using in-house proprietary algorithms and crowd-sourced information.
This includes train PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternate route or mode planning, flight status updates, automated web check-in, bus running status, pricing and availability alerts, deal discovery, destination content, personalised recommendations, instant fare alerts for flights, AI-based travel itinerary planner and automated customer support services.
Ixigo had a market share of 46.15% in the OTA rail market as of FY23 which increased to 52.4% in the first half of FY24. As of September 2023, the company enjoyed the highest app usage among OTAs with 83 million Monthly Active Users across its apps.
Peer Comparison
● Easy Trip Planners Limited
● Yatra Online Limited
Le Travenues Technology Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 501.25 | 379.58 | 135.56 |
| EBITDA | 6.14 | -6.95 | 45.04 |
| PAT | 23.39 | -21.09 | 7.53 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 585.92 | 538.47 | 185.07 |
| Share Capital | 37.12 | 36.97 | 0.04 |
| Total Borrowings | 198.80 | 195.78 | 155.13 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 30.70 | -34.34 | -15.18 |
| Net cash from / (used in) investing activities | 22.01 | -221.63 | -10.18 |
| Net cash flow from / (used in) financing activities | -2.17 | 257.88 | 13.53 |
| Net increase (decrease) in cash and cash equivalents | 50.53 | 1.89 | -11.83 |
Ixigo IPO Key Points
-
Strengths
1. It is a leading online travel agency with significant penetration in the underserved ‘next billion user’ market segment.
2. The company has Artificial intelligence and technology-driven operations.
3. Established consumer travel brands built with a user-first approach.
4. The company has a diversified business model with significant operating leverage and organic flywheel.
5. Experienced Promoters and Senior Management.
-
Risks
1. A general decline or disruptions in the travel industry may impact the business.
2. The company’s train ticketing services depend on its agreement with IRCTC.
3. The Indian OTA industry is highly competitive.
4. It is dependent on limited suppliers and distributors for a significant portion of revenue from operations.
5. The company has incurred net losses in the past.
6. It has significant working capital requirements.
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Ixigo IPO FAQs
When does the Ixigo IPO open and close?
Yet to be announced.
How to apply for the Ixigo IPO?
To apply for Ixigo IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Ixigo IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of Ixigo IPO?
Yet to be announced.
What is the minimum lot size and investment required for the Ixigo IPO?
Yet to be announced.
What is the allotment date of the Ixigo IPO?
Yet to be announced.
What is the Ixigo IPO listing date?
Yet to be announced.
Who are the book runners for the Ixigo IPO?
Axis Capital Limited, DAM Capital Advisors Limited, and JM Financial Limited are the book-running lead managers for Ixigo IPO.
What is the objective of the issue?
Ixigo will use the proceeds from the offer for:
● For working capital requirements
● To invest in cloud infrastructure and technology
● Funding inorganic growth through unidentified acquisitions and other strategic initiatives
● General corporate purposes
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