ixigo IPO subscribed 273% so far, indication of strong listing of the stock, did you subscribe

ixigo IPO Subscription / GMP :The IPO of Le Travenues Technology, the company that operates the travel tech platform ixigo, is getting a good response from investors on the second day today. By 1 pm on the second day today, this IPO has been subscribed about 3 times. At the same time, there is a craze about it in the gray market as well, which is an indication of better listing gains. Investors can invest in it till June 12. Brokerage houses and experts are also advising to invest money in this IPO.

The IPO is worth Rs 740 crore (Ixigo IPO Size)

The company has fixed the price band for this IPO at Rs 88 to Rs 93 per share. The size of this IPO is Rs 740.10 crore. Fresh equity worth about Rs 120 crore will be issued in the IPO. While the OFS is Rs 620.10 crore. That is, 66,677,674 shares will be sold by promoters and shareholders through OFS. The company has raised about Rs 333 crore from anchor investors.

Subscribed 2.73 times so far (Ixigo IPO Subscription)

In this IPO, 75 percent of the share is reserved for qualified institutional buyers (QIBs) and till now it has been subscribed 0.12 times i.e. 12 percent. 15 percent of the share is reserved for non-institutional investors (NII) and till now it has been subscribed 4.83 times i.e. 483 percent. Whereas 10 percent of the share is reserved for retail investors and till now it has been subscribed 7.39 times i.e. 739 percent. Overall it has been subscribed 2.73 times.

ixigo IPO GMP

Today is the second day of ixigo IPO and there is a lot of activity in the grey market regarding this. The unlisted stock of the company is at a premium of Rs 25 in the grey market. This premium is 27 percent in terms of the upper price band of IPO of Rs 93.

What is the view of experts and brokerage

Brokerage house Anand Rathi subscribed (Subscribe Ixigo IPO) has given rating. The brokerage house says that Ixigo is an OTA platform focused on empowering Indian travelers to plan, book and manage their trips across rail, air, buses and hotels. It is the second largest OTA in India in terms of revenue from operations in FY 2023. Its goal is to become a customer centric travel company by giving a better experience to the users. The company is currently valued at a P/E multiple of 154, while its value on market-cap/sales is 7.2 times after the issuance of equity shares compared to its peers based on FY 2023 earnings. Therefore, Ixigo has ample scope for expansion in the business.

Brokerage house SMIFS subscribed The brokerage says that LTT Limited achieved a remarkable CAGR of 92.29 per cent in revenue from operations between FY 2021 and FY 2023, driven by rising GTV. It grew from Rs 21,532.97 million in FY 2021 to Rs 74,524.30 million in FY 2023. Revenue reached 5,012.50 million in FY 2023. LTT’s diversified offerings across trains, flights, buses and hotels are well positioned to capitalise on the expanding Indian online travel market, which is projected to grow from Rs 1239 billion in FY 2023 to Rs 2802 billion by FY 2028.

(Disclaimer: Investing or selling stocks is advised by experts and brokerage houses. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)