Le Travenues Technology Ltd, which operates travel platform , has filed preliminary papers with capital markets regulator SEBI to raise Rs 1,600 crore through an initial share sale.
The initial public offering (IPO) comprises fresh issuance of shares worth Rs 750 crore and an offer of sale of equity shares to the tune of Rs 850 crore by existing shareholders, according to red herring prospectus (DRHP).
As a part of the OFS, Saif Partners India IV will offload shares worth Rs 550 crore, Micromax Informatics will sell shares for Rs 200 crore, and Aloke Bajpai and Rajnish Kumar will divest stakes worth Rs 50 crore each.
Aloke Bajpai, Co-founder and CEO, ixigo.
At present, SAIF Partners holds 23.97 percent in the company, Micromax 7.61 percent, Aloke Bajpai 9.18 percent, and Rajnish Kumar 8.79 percent stake in the firm.
The proceeds of the fresh issue will be used to fund the company’s organic and inorganic growth initiatives and for general corporate purposes. Launched in 2007 by Aloke Bajpai, ixigo is focused on empowering travellers to plan, book and manage their travels by leveraging artificial intelligence, machine learning and data science-led innovations.
The Gurugram-headquartered company has a user base of over 250 million. In July, ixigo raised $53 million through a combination of primary and secondary issuance of shares from investors, led by Singapore sovereign wealth fund GIC. It has weathered the coronavirus pandemic well and managed to grow despite most travel companies being at under half of FY20 revenues in FY21. ICICI Securities, Axis Capital, Kotak Mahindra Capital, and Nomura Financial Advisory and Securities are the lead managers to the issue.
There has been a rush towards IPO from the Indian startup ecosystem, and the remainder of the year is likely to see at least half a dozen of them getting listed. The first to get off the block has been Zomato, which had a stellar debut and others getting ready to get listed are Paytm, Mobikwik, Nykaa, and CarTrade.
Edited by Kanishk Singh
Link : https://yourstory.com/2021/08/ixigo-ipo-papers-sebi-travel-marketplace
Author :- Press Trust of India ( )
August 13, 2021 at 11:44PM
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