₹ 14973 / 161 shares

IPO Details

RHP/DRHP

Issue Date

10 Jun - 12 Jun'24

Investment/lot

₹ 14973

Price Range

88 - 93

Lot Size

161

IPO Size

₹ 740.10 Cr

IPO Listing Details

Listing On

18 Jun'24

Issue Price

93

Listed Price

₹ 138.1

Retail Gain/Listing Gain

48.49%

Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

WATCH AND LEARN
All you need to know about Ixigo IPO
Le Travenues Technology Limited's (Ixigo) IPO will go live from 10th June to 12th June 2024. The company operates in the Indian travel and tourism industry. Tune in to know more about the company, IPO issue details, product/service portfolio, and much more with Kinjal Parekh!

Le Travenues Technology is an online travel agency (OTA) company dedicated to providing localised content and app features specifically designed to address the needs of travellers from Tier II and Tier III cities (Source: F&S Report).

In Fiscal 2023, the company was the second largest OTA in India by consolidated revenue from operations and the leading OTA for the ‘next billion users’ (Source: F&S Report).

With that, let's take a look at the competitive strength and risk factors for Le Travenues Technology Limited:

Leading OTA with significant penetration in the underserved ‘next billion user’ market segment

The number of transactions booked through their OTA platforms increased at a CAGR of 139.43%, rising from 8.56 million in Fiscal 2021 to 49.07 million in Fiscal 2023. In the nine months ending December 31, 2023, and December 31, 2022, the transactions amounted to 42.00 million and 36.47 million, respectively.

Established consumer travel brands built with a user-first approach

As of November 2023, the ixigo Group apps were among the highest-rated OTAs, boasting a rating of 4.6 on the Google Play Store. In September 2023, these apps also led in usage and engagement among all key OTA players and standalone transactional train mobile apps in India, in terms of monthly active users and sessions per user per month (Source: F&S Report).

Artificial intelligence (AI) and technology-driven operations

The company leverages artificial intelligence, data science, and machine learning to convert travel information and crowd-sourced data into business intelligence, enhancing their travel offerings and operational efficiency. They have developed advanced, scalable technology platforms to address travellers' needs and challenges. Recently, they launched ixigo PLAN, an intelligent AI-based trip planner that provides detailed itineraries and real-time destination information to assist travellers in planning their journeys. Additionally, they introduced a generative AI plugin, enabling conversational interactions with ixigo PLAN.
  • The company originally commenced operations as a meta-search website and subsequently transitioned to becoming an OTA. They have limited experience operating as an OTA.

  • Their train ticketing services rely on an agreement with IRCTC. Termination of this agreement could halt their train ticketing services and impact their financial condition.

  • Their arrangement with IRCTC is non-exclusive, allowing IRCTC to engage with other distribution partners, including their competitors.

Key Strategies

  • Continue to deepen penetration and enhance offerings for the ‘next billion user’ market segment.

  • Increase monetisation through cross-selling and up-selling.

  • Improve operating leverage through investment in deep tech and artificial intelligence.

Here are the key financials for Le Travenues Technology Limited:

Particulars (in Rs. million)

Particulars (in Rs. million)

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How to apply for IPO through ASBA

How to apply for IPO through ASBA

Kotak Securities

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Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.

Here are the steps to apply for Ixigo IPO:

Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

Ixigo IPO FAQs

Ixigo IPO will list on 2024-06-18.

740.10 is the issue size of Ixigo IPO.

The minimum lot size is 161 shares and the investment required is ₹14973.

The price band of Ixigo IPO is ₹88 to ₹93.

You can read more about Ixigo and its IPO from the company’s red herring prospectus (RHP) here.

The Le Travenues Technology Limited IPO has an issue size of Rs. 740 crores. The IPO opens for subscription on 10th June 2024 and closes on 12th June 2024

Link Intime India Private Limited is the registrar for this IPO.

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