Ixigo IPO Lists on NSE with a 48.49% Premium

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 18th June 2024 - 11:38 am

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Strong listing for Le Travenues Technology (Ixigo) IPO

Le Travenues Technology Ltd (Ixigo) had a very strong listing on 18th June 2024, listing at ₹138.10 per share, a premium of 48.49% over the issue price of Rs93 per share. Here is the pre-open price discovery for the Mainboard IPO of Le Travenues Technology IPO (Ixigo) on the NSE as of 9.50 am. The pre-IPO period ends at 9.50 am and actual trading on the IPO stock starts at 10.00 am on listing day.

PRE-OPEN ORDER COLLECTION SUMMARY

Indicative Equilibrium Price (In ₹) 138.10
Indicative Equilibrium Quantity (Number of Shares) 1,64,01,096
Final Price (In ₹) 138.10
Final Quantity (Number of Shares) 1,64,01,096
Previous Close (Final IPO price) ₹93.00
Discovered Listing Price premium / discount to IPO Price (₹) ₹+45.10
Discovered Listing Price premium / discount to IPO Price (%) +48.49%

Data Source: NSE

The mainboard Le Travenues Technology IPO (Ixigo) was a book built IPO with a price band of ₹88 to ₹93 per share. The price was discovered at the upper end of the band at ₹93 per share after a robust subscription response of over 98.10X and the anchor allocation also happening at the upper band of ₹93 per share, a day ahead of the IPO opening. On 18th June 2024, the stock of Le Travenues Technology Ltd (Ixigo) listed on the NSE Mainboard segment at a price of ₹138.10 per share, a premium of 48.49% over the IPO issue price of ₹93. For the day, the upper circuit price has been set at ₹165.72 and the lower circuit price has been set at ₹110.48. 

As of 10.06 am, the volumes were 377.30 lakh shares while the turnover (value) was at ₹521.88 crore on NSE. The stock has a face value of ₹1 per share and the applicable margin rate is 25.00%. The opening market cap of the stock stands at ₹5,347 crore. The stock will be traded in the regular equity “EQ” series with delivery and intraday trades permitted, but part of the rolling segment cycle of the NSE.  At 10.05 am, it is trading higher at ₹138.00 per share; which is -0.07% below the listing price. The stock of Le Travenues Technology Ltd (Ixigo) trades with the following symbols; NSE Code (IXIGO), BSE Code (544192), and the shares have been credited to the demat accounts of allottees under the designated ISIN (INE0HV901016)

How Le Travenues Technology (Ixigo) IPO listed on BSE?

Here is a quick price discovery summary of Le Travenues Technology IPO (Ixigo) on the Bombay Stock Exchange (BSE) on the day of listing, 18th June 2024. The pre-IPO period ends at 9.50 am and actual trading on the IPO stock starts at 10.00 am on listing day.

PRE-OPEN ORDER COLLECTION SUMMARY

Indicative Equilibrium Price (In ₹) 135.00
Indicative Equilibrium Quantity (Number of Shares) 7,81,712
Final Price (In ₹) 135.00
Final Quantity (Number of Shares) 7,81,712
Previous Close (Final IPO price) ₹93.00
Discovered Listing Price premium / discount to IPO Price (₹) ₹+42.00
Discovered Listing Price premium / discount to IPO Price (%) +45.16%

Data Source: BSE

The Mainboard Le Travenues Technology IPO (Ixigo) was a book built IPO priced at the upper end of the band at ₹93 per share. On 18th June 2024, the stock of Le Travenues Technology Ltd (Ixigo) listed on the BSE mainboard segment at a price of ₹135.00 per share, a premium of 45.16% over the IPO issue price of ₹93. For the day, the upper circuit price has been set at ₹161.99 and the lower circuit price has been set at ₹108.00. As of 10.07 am, the volumes were 27.54 lakh shares while the turnover (value) was at ₹3,792 lakhs on BSE. The stock has a face value of ₹1 per share. The stock will be traded in the normal “B” series on the BSE with intraday and delivery trades permitted, but part of the T+1 settlement cycle. The market cap of the stock stands at ₹5,515 crore with free float market at ₹938 crore. At 10.07 am, it is trading +3.16% higher at ₹139.26 per share.

About Le Travenues Technology (Ixigo) IPO

The stock of Le Travenues Technology IPO (Ixigo) has a face value of ₹1 per share and the price band for the book building IPO has been set in the range of ₹88 to ₹93 per share. The IPO of Le Travenues Technology Ltd (Ixigo) will be a combination of a fresh issue of shares and offer for sale (OFS) component. The fresh issue brings in fresh funds into the company, but is also EPS and equity dilutive. On the other hand, OFS is just a transfer of ownership; and hence neither EPS nor equity dilutive. The fresh issue portion of the IPO of Le Travenues Technology Ltd (Ixigo) comprises the issue of 1,29,03,226 shares (129.03 lakh shares approximately), which at the upper price band of ₹93 per share will translate into a fresh issue size of ₹120.00 crore. The offer for sale (OFS) portion of the IPO of Le Travenues Technology Ltd (Ixigo) comprises the sale / offer of 6,66,77,674 shares (666.78 lakh shares approximately), which at the upper price band of ₹93 per share will translate into an OFS size of ₹620.10 crore.

Read more about Le Travenues Technology (Ixigo) IPO

Out of the OFS size of 666.78 lakh shares, 8 selling shareholders will offer the entire quantity in the OFS. The selling shareholders include SAIF Partners (194.37 lakh shares), Peak XV Partners (130.24 lakh shares), Aloke Bajpai (119.50 lakh shares), Rajnish Kumar (119.50 lakh shares), Micromax Informatics (54.87 lakh shares), Placid Holdings (30.48 lakh shares),  Catalyst Trusteeship (13.34 lakh shares), and Madison India Capital (4.47 lakh shares). All selling in OFS will be by investor shareholders, since the company is professionally managed and does not identify with a promoter group. Thus, the total IPO of Le Travenues Technology Ltd (Ixigo) will comprise of a fresh issue and an OFS of 7,95,80,900 shares (795.81 lakh shares approximately) which at the upper end of the price band of ₹93 per share aggregates to total issue size of ₹740.10 crore. The IPO of Le Travenues Technology Ltd (Ixigo) will be listed on the NSE and the BSE on the IPO mainboard.

The fresh funds will be used for funding working capital needs, investing in cloud infrastructure and technology, as well as to fund inorganic growth via M&A. The company, being a professionally managed company, does not have an identified promoter group. The IPO will be lead managed by Axis Capital, DAM Capital Advisors (formerly IDFC Securities), and JM Financial; while Link Intime India Private Ltd will be IPO registrar.

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