₹ 14973 / 161 shares
IPO Details
RHP/DRHPIssue 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
â–²48.49%
IPO Timeline
ixigo IPO Review
Kotak Securities
•4m 37s
Le Travenues Technology (Ixigo) Company Background
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:
Le Travenues Technology (Ixigo) Competitive Strengths
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.
Ixigo IPO Risk Factors
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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.
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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.
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Their arrangement with IRCTC is non-exclusive, allowing IRCTC to engage with other distribution partners, including their competitors.
Key Strategies
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Continue to deepen penetration and enhance offerings for the ‘next billion user’ market segment.
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Increase monetisation through cross-selling and up-selling.
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Improve operating leverage through investment in deep tech and artificial intelligence.
Le Travenues Technology (Ixigo) Key Financials
Here are the key financials for Le Travenues Technology Limited:
Particulars (in Rs. million)
Particulars (in Rs. million)
How to apply for IPO through ASBA
Kotak Securities
•04m 01s
How to apply for an IPO using UPI
Kotak Securities
•01m 19s
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.
How To Apply for Ixigo 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
When is Ixigo IPO listing date?
Ixigo IPO will list on 2024-06-18.
What is the issue size of Ixigo IPO?
740.10 is the issue size of Ixigo IPO.
What is the minimum lot size required for Ixigo IPO?
The minimum lot size is 161 shares and the investment required is ₹14973.
What is the price band of the Ixigo IPO?
The price band of Ixigo IPO is ₹88 to ₹93.
Where can I read more about Ixigo business?
You can read more about Ixigo and its IPO from the company’s red herring prospectus (RHP) here.
What is the Le Travenues Technology Limited IPO?
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
Who is the Registrar for Le Travenues Technology Limited IPO?
Link Intime India Private Limited is the registrar for this IPO.
